Nvidia overtakes Amazon in market value thanks to AI mania

Demandan a Amazon por prácticas engañosas: dicen que dirige búsquedas hacia artículos de mayor costo

Nvidia briefly overtook Amazon in market capitalization on Monday, as enthusiasm for artificial intelligence made the chip maker the fourth most valuable US company.

At an all-time high of $734.96, Nvidia had a market cap of $1.82 trillion, while retail giant Amazon’s was at $1.81 trillion and Google-owner Alphabet’s was a few billion less at $1.87 trillion, according to LSEG data.

The last time Nvidia was more valuable than Amazon was in 2002, when each was worth less than $6 billion.

After Amazon reported stronger-than-expected Christmas quarter sales last month, investors are awaiting quarterly results from Nvidia on Feb. 21, the last of the mega-cap companies to report results this season.

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Expectations have been high since the report, and its stock is up 47% so far this year, making it the biggest gainer among S&P 500 components.

Nvidia joins top generative AI companies

Nvidia’s quarterly results and strong forecasts a year ago established that the chip designer was in a top position to supply technology companies working on so-called generative AI, such as chatbots and imaging.

Bets on strong AI demand sent Nvidia shares skyrocketing, making it the best-performing value of the so-called “Magnificent Seven” with a 223% rise in the past 12 months. Meta Platform is in second place, up 163%.

Microsoft overtook Apple to become the world’s most valuable company in January, while Alphabet remained in third place.

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