AI demand accelerates NVIDIA market value to $1 trillion
NVIDIA’s market value is set to soar to an impressive $1 trillion by the end of this year, driven by the rising demand for processors in the Artificial Intelligence (AI) technology sector.
With sales reaching a record-breaking $11 billion and a remarkable premarket trading value surge of 29% in recent months, NVIDIA owes its success to the immense demand for silicon wafers in the computing market, particularly in the realm of machine learning.
Experts in the trading industry anticipate that the Santa Clara-based company will soon join the exclusive club of trillion-dollar companies, alongside tech giants like Alphabet, Apple, and Microsoft, who have already achieved this remarkable milestone.
Jensen Huang, the CEO and Founder of NVIDIA, expressed his belief that data centers worldwide are on the brink of an extraordinary transformation due to the rapid advancements in AI technology. In response to this, NVIDIA is determined to cater to the industry’s needs by introducing innovative processors that operate at speeds tens and thousands of times faster, keeping up with the ever-evolving AI algorithms.
However, there are concerns regarding the unrestrained development of AI technology without proper limitations and legal boundaries. Eric Schmidt, former CEO of Google, warns against the potential misuse of smart AI-enabled products, suggesting they could be used for harmful purposes. His views echo those of Elon Musk, the CEO of Tesla and Twitter.