Priya PatelIn a dramatic rise, Nvidia has experienced AI breakthroughs, surpassing Amazon in market capitalization and becoming the fourth most valuable US company. Nvidia’s work in AI and digital twins is transforming industries, and its AI technologies are used by major companies, such as Alibaba, Amazon, Google, Microsoft, and Tencent. The company recently introduced a new range of AI chips for the Chinese market following US export restrictions on certain chips. Nvidia’s total revenue for Q3 2023 was $18.12 billion, a growth of 206% year-on-year, driven by strong data center growth and the transition to accelerated computing and generative AI. CEO and Founder Jensen Huang announced that Nvidia’s GPUs, CPUs, networking, AI foundry services, and Nvidia AI Enterprise software are all growth engines.
Nvidia has been the best-performing tech stock over the last year and is expected to become the world’s first trillion-dollar semiconductor stock. The company’s invention of the GPU in 1999 sparked the growth of the PC gaming market and the era of modern AI.
