Nvidia Surpasses Amazon in Market Value for the First Time in Over 20 Years
On Monday, Nvidia’s market value exceeded that of Amazon’s for the first time in over two decades. According to Bloomberg, the leading designer and supplier of AI chips saw its shares increase by 2.9% to reach a market capitalization of $1.83 trillion. This placed Nvidia as the fourth most valuable US-listed company, trailing behind Alphabet, Apple, and Microsoft.
Saxo Bank’s Peter Garnry noted that while Amazon’s outlook is improving, Nvidia is benefiting from the current AI boom with significant capital expenditures being deployed in data centers.
Having added around $600 billion in market value this year, Nvidia is set to report its quarterly earnings on February 21. The company recently introduced the GeForce RTX 40 Super Series of GPUs, starting at $599. Additionally, it was reported last week that Nintendo’s upcoming Switch successor will incorporate a custom Nvidia chip.