Nvidia’s Market Value Surpasses Amazon’s After AI Boom

Nvidia has surpassed Amazon in terms of market value after the significant increase in the company’s stock price since the beginning of this year, thanks to the global race in artificial intelligence.

Nvidia is considered one of the largest leading companies in the field of electronic chips, particularly the chips used in data centers and infrastructure for training and running artificial intelligence models.

The demand for electronic chips produced by Nvidia witnessed a significant surge in 2023, with the advent of the artificial intelligence revolution, and this demand continues to persist with Nvidia’s prominent dominance over other companies.

It is worth mentioning that the shares of NVIDIA have increased by approximately 50% since the beginning of the current year, raising the company’s market value by about $600 billion. Currently, the market value of the company stands at $1.82 trillion, surpassing Amazon, whose current market value is around $1.81 trillion, and with a small difference compared to Alphabet – the parent company of Google – whose market value is around $1.87 trillion.

Currently, Nvidia is considered the top-performing company since the beginning of the current year in the S&P 500 index, which includes the stocks of the largest 500 American financial companies.

The last time Nvidia surpassed the market value of Amazon was in 2002, which is over twenty years ago. At that time, the market value of both companies did not exceed 6 billion dollars.

At the beginning of this year, Microsoft managed to surpass Apple’s market value to become the largest company in terms of market value, driven by its focus on artificial intelligence. Alphabet comes in third place.