Nvidia Tops Alphabet, Amazon as AI Demand Fuels Market Surge

February 15, 2024
Nvidia Tops Alphabet, Amazon as AI Demand Fuels Market Surge
  • 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


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