Two American behemoths in one session.
This Monday on the New York Stock Exchange, the giant of chips dedicated to AI, Nvidia, had the luxury of exceeding the market capitalization of Amazon and Google in a single session.
At $1,820 billion, the Californian group becomes the third largest capitalization in the world, behind Microsoft (3,110 billion) and Apple (2,900 billion).
A few days before the publication of its annual results, announced as records, Nvidia is riding more than ever on the boundless appetite of investors for artificial intelligence of which it is one of the main equipment manufacturers.
Its graphics cards (or GPUs), particularly suited to the demanding calculations required by artificial intelligence, are being snapped up by the tens of thousands.
Multiplying the result by 13.5
Its main customers, moreover, are none other than Amazon, Google and Microsoft via their cloud subsidiary.
They use these chips to train their own AI models and offer them to the general public, as well as to business customers.
For its third quarter ended in October, Nvidia recorded revenue of $18.1 billion, double the previous year.
At more than $9.2 billion in three months, net income increased 13.5 times compared to the previous year.
A trajectory which obviously arouses investor frenzy.
Nvidia, which beats analysts' expectations in each of its quarterly results, has seen its stock price multiplied by more than four since the end of 2022. A date which marks the launch of ChatGPT, and the start of the rush towards AI.