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Nvidia pushes out Apple, Microsoft to become world’s most valuable company

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The computer chipmaker’s stock market value rose to $3.3 trillion, surpassing Apple and Microsoft.

more than 3 percent Tuesday, giving the company an overall market valuation of more than $3.3 trillion. Apple and Microsoft, which for years have swapped positions as the world’s most valuable company, were worth slightly less at the end of trading.

Nvidia’s computer chips and software are crucial to training the AI algorithms behind image-generators and chatbots like OpenAI’s ChatGPT. As the tech and business worlds throw themselves into the AI boom, demand for the chips has skyrocketed, pushing Nvidia’s revenue up toThe company’s rise to become the world’s most valuable company underlines how strongly investors believe Big Tech executives’ claims that AI will overhaul whole swaths of modern life.

In the mid 2010s, researchers at AI labs began using Nvidia GPUs as they tinkered with evermore capable AI. The company took notice, and began improving the software used to program its chips to make it more suited to AI work. By the time the AI boom happened, most of the industry was accustomed to using Nvidia’s chips and software.

 

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