NVIDIA’s
CEO
Jensen
Huang
attends
a
media
roundtable
meeting
in
Singapore
December
6,
2023.
Edgar
Su
|
Reuters
Nvidia
surpassed
Google
parent
Alphabet
in
market
capitalization
on
Wednesday.
It’s
the
latest
example
of
how
the
artificial
intelligence
boom
has
sent
the
chipmaker’s
stock
soaring.
Nvidia
rose
over
2%
to
close
at
$739.00
per
share,
giving
it
a
market
value
of
$1.83
trillion
to
Google’s
$1.82
trillion
market
cap.
The
move
comes
one
day
after
Nvidia
surpassed
Amazon
in
terms
of
market
value.
The
symbolic
milestone
is
more
confirmation
that
Nvidia
has
become
a
Wall
Street
darling
on
the
back
of
elevated
AI
chip
sales,
valued
even
more
highly
than
some
of
the
large
software
companies
and
cloud
providers
that
develop
and
integrate
AI
technology
into
their
products.
Nvidia
shares
are
up
over
221%
over
the
past
12
months
on
robust
demand
for
its
AI
server
chips
that
can
cost
more
than
$20,000
each.
Companies
like
Google
and
Amazon
need
thousands
of
them
for
their
cloud
services.
Before
the
recent
AI
boom,
Nvidia
was
best
known
for
consumer
graphics
processors
it
sold
to
PC
makers
to
build
gaming
computers,
a
less
lucrative
market.
Google
was
largely
expected
to
benefit
from
AI,
especially
since
employees
at
the
company
pioneered
many
of
the
techniques
—
such
as
transformer
architecture
—
used
in
cutting-edge
models
like
ChatGPT.
Google
shares
are
still
up
55%
in
the
past
12
months,
though
the
company
has
grappled
with
layoffs
and
culture
issues
after
it
declared
a
“code
red”
situation
to
build
AI
services
into
its
products.
Google
announced
a
$20
per
month
AI
subscription
called
Gemini
Advanced
earlier
this
week,
one
of
its
first
paid
generative
AI
products.
Nvidia
is
now
the
third
largest
U.S.
company,
only
behind
Apple
and
Microsoft.
Nvidia
reports
quarterly
earnings
on
Feb.
21.
Analysts
expect
118%
annual
growth
in
sales
to
$59.04
billion.
