Sorry, Microsoft, Nvidia just became the most valuable company in the US, thanks to its high-demand AI chips.
Nvidia's chips are crucial for creating text, images, and audio for AI systems. This demand tripled their revenue, hitting $26 billion in the latest quarter.
How Did They Do It?
Nvidia's stock value tripled over the past year, reaching $3 trillion. To make it more accessible, they split shares 10-for-1.
A Bit of History:
The last time this happened was with Cisco during the dot-com boom. CEO Jensen Huang calls AI the new industrial revolution, with Nvidia at its heart.
Nvidia's rise highlights its pivotal role in AI, though some warn of a potential bubble.