NVIDIA is doing very well for itself, so much so that the chip maker has overtaken Google’s parent company Alphabet to become the third most valuable company in the US. Reuters reports. The news comes almost immediately after NVIDIA It left behind Amazon in the ranking, the value of the company is 1.83 trillion dollars. Globally, it ranks fourth behind American companies Microsoft ($3.04 trillion) and Apple ($2.84 trillion) and Saudi Arabia’s state oil company Saudi Aramco ($2.07 trillion).
Last year’s boom in artificial intelligence is thanks to a jump in valuation by NVIDIA, which owns about 80 percent of the high-end chip market. He created the H100 chip that powers LLMs at OpenAI, Amazon, Meta and others. in January, Mark Zuckerberg Meta said it will buy 350,000 of NVIDIA’s H100 chips by the end of the year.
Unlike most companies competing for the fastest advancement in AI, NVIDIA all baskets have figurative hands. The chipmaker is also expanding its business to create custom chips for cloud computing firms. This additional offering could keep NVIDIA in the mix AI Manufacturers are looking for more custom options.
NVIDIA’s quarterly report is due on Wednesday, February 21st, and while it’s expected to be positive, anything less than excellent could lower the company’s valuation and thus its rating. Forecasts saw NVIDIA’s quarterly revenue triple to $20.37 billion and net profit rise 400 percent to $11.38 billion.
