NVIDIA emerges third most valuable company in the US

Alex Omenye
Alex Omenye

American chipmaker NVIDIA has overtaken Alphabet, Google’s parent company, becoming the third most valuable company in the United States with a valuation of $1.83 trillion, Reuters reported

This development follows closely after NVIDIA surpassed Amazon in the rankings. Globally, it stands as the fourth most valuable company, trailing Microsoft ($3.04 trillion), Apple ($2.84 trillion), and Saudi Aramco ($2.07 trillion).

NVIDIA’s rise in valuation is primarily attributed to the boom in AI over the past year, as it controls approximately 80% of the high-end chip market.

The company’s H100 chip, powering large language models at OpenAI, Amazon, Meta, and others, has contributed significantly to its success. NVIDIA’s expansion into creating custom chips for cloud computing firms further solidifies its position, providing tailored solutions in a growing market.

While NVIDIA’s quarterly report is anticipated to be positive, any deviation from excellence could impact its valuation and ranking. Projections indicate a tripling of quarterly earnings to $20.37 billion, with net profits expected to surge by 400% to $11.38 billion.

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