Nvidia Tops Alphabet, Amazon as AI Demand Fuels Market Surge
February 15, 2024
Nvidia's market cap has soared to $1.83 trillion, surpassing Alphabet and Amazon, with its stock value rising by 49% this year.
Anticipation is high for Nvidia's earnings report, with projected 2023 revenues exceeding $58 billion.
TSMC, a key Nvidia chip producer, has reached a $670.44 billion market cap and is now the world's 10th most valuable company.
Demand for datacenter processors is driving TSMC's growth, with plans to increase capital spending in 2024.
Nvidia's investment in SoundHoundAI reflects its strategy to expand in AI technologies, alongside other AI company investments.
SoundHoundAI has seen significant revenue growth and stock value increase, partnering with major brands for voice-activated AI.
Arm Holdings, benefiting from its AI chip designs for Apple, posted strong quarterly earnings, raising growth estimates for the year.
Summary based on 18 sources