Nvidia Has Added $1 Trillion to Its Market Cap in 50 Days. Here's Why Its Growth Isn't Done.
Among artificial intelligence (AI) companies, perhaps none are more important than the "Magnificent Seven." Except for , each Magnificent Seven stock has a market cap over $1 trillion.
However, I'd argue that Nvidia (NASDAQ: NVDA) is the most influential among megacap tech companies at the moment. Nvidia specializes in manufacturing semiconductor chips called graphics processing units (GPU).
Over the last year, demand for GPUs skyrocketed, given their role across a variety of generative AI applications including machine learning and accelerated computing. As such, shares of Nvidia have gone parabolic -- rocketing up to 284% in the last year.
Source Fool.com