Artificial Intelligence (AI) Juggernaut Nvidia Is One of the World's Most Valuable Companies. Here's What Investors Should Know.
In May 2017, Nvidia (NASDAQ: NVDA) co-founder and CEO Jensen Huang was interviewed in the MIT Technology Review when he said, "Software is eating the world, but AI is going to eat software." This week, Nvidia briefly became the most valuable company in the world, with a market capitalization of over $3.3 trillion, before closing Friday just a little behind and Apple. In short, the artificial intelligence (AI) revolution has produced eye-popping financial results for the business, igniting incredible gains for the stock.
Nvidia is undeniably an AI juggernaut. Huang was ahead of the trend, developing both hardware and software for AI long before there was strong demand. In other words, Nvidia was ready for AI well before its time in the spotlight.
That time finally came once OpenAI launched its ChatGPT product in late 2022. Generative AI applications were suddenly at the forefront of everyone's imagination, and businesses quickly felt the need to do something or risk getting left behind.
Source Fool.com
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