Nvidia briefly overtook Amazon in terms of market capitalization, driven by a surge in interest around artificial intelligence.
LSEG data reported by Reuters stated that the chipmaker hit a record high of $734.96 per share, giving it a market value of $1.82 trillion, surpassing Amazon's $1.81 trillion. .
Nvidia has now returned to fifth position among the most valuable companies in the United States, behind Microsoft, Apple, Alphabet (Google) and Amazon.
Is Nvidia worth more than Amazon?
With Nvidia's stock prices up 231.6% over the past year, and Amazon's stock up a less impressive (but still very healthy) 73.1%, Nvidia could soon overtake the Seattle-based company. more permanently.
This achievement marks the first time that Nvidia has surpassed Amazon in more than two decades, when in 2002 both were worth less than $6 billion.
With Amazon reporting better-than-expected sales last month, thanks to a successful Christmas period, investors are waiting for Nvidia to report its most recent quarterly earnings on February 21.
Nvidia has positioned itself as a key player in supplying components to technology companies focused on generative AI. However, with companies like Google, Amazon and Meta exploring their own chips, a lot depends on Nvidia's success.
Elsewhere in the technology landscape, Microsoft last month overtook Apple as the world's most valuable company and the second to reach a market value of more than $3 trillion. Today, Apple is below that $3 trillion threshold, after reaching the momentous figure in June 2023.
As the AI boom continues, Nvidia's considerable market share highlights the growing importance of technology companies in contributing to the broader global economy, as well as the immense growth potential for the companies they run. aspects of AI.
