It was recently revealed by Bloomberg’s financial analysts that Nvidia Corp. briefly overtook Amazon in market value to become the fourth most valuable US-listed company, boasting a closing value of $1.78 trillion on Monday 12. It was edged out by Amazon at the end of the day, with the firm closing on $1.79 trillion. It’s a testament to Nvidia’s growth over the last year or so, with the rise of ‘artificial intelligence computing’ pushing the chip maker higher than ever before.
Suffering from Success
In October 2023, the founder and CEO of Nvidia, Jensen Huang, said he wouldn’t start a company if he was given a second chance at life. He said on an episode of the Acquired podcast:
I wouldn’t do it. Building a company and building Nvidia turned out to have been a million time sharder than I expected it to be – than any of us expected it to be.
That was around the time that Nvidia was approaching a $1 trillion market value, aided by the explosion of popularity in AI technology and PC gaming. Huang spoke of the ‘pain and suffering’ that he had to endure to get Nvidia to where it is today. There were throwbacks to Nvidia’s earlier struggles that saw it almost eliminated from the market in the noughties, but ultimately, the tech titan has come out on top after all these years.
So, for a brief moment, Nvidia became more valuable than Amazon, the mega-corporation with fingers in almost every tech-based pie in the world – data, gaming, television, web hosting, and e-commerce, to name a few.
Bloomberg also noted that Nvidia is ‘the last of the tech giants’ to report earnings – which will be dropping on February 21.