- NVIDIA has surpassed a market value of over $2 trillion, leaving a lot to discuss for American stock market observers.
- Remarkably, NVIDIA is currently the third most valuable company listed in the United States, following Microsoft and Apple.
- NVIDIA’s growth has also led to an increase in the prices of other artificial intelligence tokens, such as Render (RNDR) and SingularityNET (AGIX).
Artificial Intelligence giant and chip manufacturer NVIDIA announced its Q4 revenue reports; the company’s market value reached $2 trillion.
NVIDIA Releases 4th Quarter Earnings Reports
Artificial Intelligence giant and chip manufacturer NVIDIA has surpassed a market value of over $2 trillion, leaving a lot to discuss for American stock market observers. NVIDIA’s record profits played a significant role in the American stock market reaching a record level on February 22.
Beyond many analysts’ expectations, NVIDIA’s shares closed on Thursday with a 16.4% increase. This brought an additional $277 billion to NVIDIA’s market value. However, this came after the company released its quarterly results and new forecasts the previous day.
Overall, the company reported a total profit of $740 billion for the fiscal year 2023. Looking at these figures, it is evident that the chip manufacturer surpasses companies like Amazon and Google’s parent company Alphabet, currently valued at $1.82 trillion and $1.8 trillion, respectively.
Remarkably, NVIDIA is now the third most valuable company listed in the United States, following Microsoft and Apple. It should be noted that these valuations are not fixed and may rise or fall over time.
Impact of Profits
This move also boosted the shares of other technology-based companies. The S&P 500, always considered a benchmark for Wall Street, saw an increase of 105.23 points (2.1%). This resulted in the Index closing at the last seen level of 5,087.03 in January 2023.
Additionally, the Dow Jones Industrial Average recorded a profit of 456.87 points (1.2%), closing above 39,000 dollars. This was the first time Dow Jones reached this level and also the 13th high since the beginning of January. The Nasdaq Composite, a technology-weighted Index, also rose by 3%, reaching 16,041.62, making it its second-highest closing.
The driving forces behind NVIDIA’s profits include the introduction of new chip manufacturing to China and the company’s strong competition with OpenAI’s ChatGPT, believed to have a powerful competitor called “Chat with RTX,” a chatbot. NVIDIA’s growth has also led to an increase in the prices of other artificial intelligence tokens, such as Render (RNDR) and SingularityNET (AGIX).
