Nvidia has reportedly surpassed Apple Inc., and became the world's most valuable company, in a stunning display of the power of artificial intelligence. The chipmaker's market has been capitalized and has soared to an unprecedented USD 3.43 trillion, fueled by its dominance in the AI hardware market.
A year of explosive growth
Nvidia's meteoric rise can be attributed to its pivotal role in the AI revolution. The company's high-performance GPUs have become essential tools for training and running AI models.
This surge in demand is particularly from data centres and AI researchers have reportedly propelled Nvidia's stock price to astronomical heights, outperforming the broader market by a significant margin.
AI's impact on tech giants
The influence of AI is visible across the entire tech industry where Apple, Alphabet, Microsoft and Meta are heavily investing in AI technologies to enhance their products and services.
Nvidia, as a key supplier of AI hardware, has been benefitted from this industry-wide shift.
Analysts bullish on Nvidia's future
Analysts are optimistic about Nvidia's future as they have predicted that the company's revenue will more than double in the current fiscal year and continue to grow significantly in the following year.
The strong demand for AI chips and the company's technological leadership position are driving these bullish forecasts.
As AI continues to reshape industries, Nvidia's dominance in the market is likely to persist. The company's ability to capitalize on the AI revolution has positioned it as a key player in the future of technology.
ALSO READ: Android 16 update coming early next year: Google's new plan
To facilitate a smooth transition, Google will provide developers with an early beta version of Android 16 next year. This early access will allow developers to start optimizing their apps for the new OS and ensure a seamless user experience.
ALSO READ: Amazon's colorful Kindle faces early setback in the US: Know what happened
Early adopters of the Kindle Colorsoft have reported a noticeable yellow bar which has appeared at the bottom of the screen. This defect, which covers approximately 10 per cent of the display has significantly marred the user experience.
