Evgenii "Gufis" Kondratev During trading on November 6, 2024, NVIDIA stock rose by 2.9% to $139.93 per share, giving the company a market capitalization of $3.43 trillion, surpassing Apple, which stood at $3.38 trillion.
According to experts of Bloomberg, NVIDIA's rise over Apple can be attributed to the company becoming the largest beneficiary of AI infrastructure development.
Analysts surveyed predict that NVIDIA's revenue will more than double in fiscal year 2024, with another 44% increase expected in 2025. In 2022, the company introduced the DGX H100 system for large language model computations, the Jetson AGX Orin AI supercomputer, and the Omniverse platform for collaborative work in virtual environments.
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Since late 2022, NVIDIA stock has surged by over 850%. In 2023, the company's processors began being used to train AI models for OpenAI and other developers. NVIDIA also briefly held the top market capitalization position in both June and October 2024.
In October 2024, NVIDIA CEO Jensen Huang announced that the company had started production on the next-generation AI chip, Blackwell, noting the tremendous demand for it.
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