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Insights: Investors are going all in to catch the AI wave led by Nvidia
We’re only two months into the year, and Wall Street has identified its current crown jewel. Nvidia, a company that once focused on giving gamers top-quality graphics cards, is leading the way in artificial intelligence (AI) and computing hardware innovation.
And here’s the irony: many people have no idea what Nvidia does. While Nvidia’s share price was going gangbusters following its most recent earnings report, the phrase “what does Nvidia do” was also soaring on Google Trends.
So far this year, the stock has rocketed 84%. In the past year: 277%. In the last five years: 2,259% (numbers as of March 6). This rally sent the total market cap to roughly\\$2 trillion, surpassingAmazon, Alphabet, and Meta.
But what’s causing this frenzy? How did a company once focused on a relatively niche market—gamers with strong opinions about their computer builds—have this meteoric rise in value? And why are some saying this stock couldpotentially go even higher?
Here’s the who, what, where of this seemingly under-the-radar computer chip company that has taken the stock market by storm, with insights from our very own Patrick McCarron, a staff iOS engineer and longtime Nvidia customer and Richard Whaling, Director of Data Engineering. |
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