Nvidia's stock market value rose $273 billion in a day. How it rose to AI prominence, by the numbers

FILE - A sign for a Nvidia building is shown in Santa Clara, Calif., May 31, 2023. The chipmaker posted stronger-than-expected results for its latest quarter and provided further evidence that the excitement surrounding artificial intelligence likely won’t subside anytime soon. stock price jumped 16% on Thursday, increasing the company’s market value by a staggering $273 billion in just one day, a record amount.

The chipmaker has been seeing soaring demand for its semiconductors, which are used to power artificial intelligence, or AI applications. The company’s revenue more than tripled in the latest quarter compared with the same period a year earlier. It’s the latest sign that the excitement surrounding artificial intelligence likely won’t subside anytime soon. Nvidia, which has positioned itself as one of the most prominent players in AI, has been producing some eye-popping numbers. Here’s a look:CEOs of OpenAI and Intel cite artificial intelligence’s voracious appetite for processing powerThe amount Nvidia Corp.’s market value increased on Thursday alone, according to FactSet.

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​​How Nvidia’s Investment Arm Is Supercharging A New Class Of AI StartupsI'm a Forbes technology reporter and senior writer based in San Francisco. Send me tips at rnievaforbes.com or richardnievaprotonmail.com.
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