WEB DESK: Nvidia has made history by becoming the first company in the world to achieve a market capitalization of $5 trillion, setting a new benchmark in the global corporate landscape.
The landmark valuation was briefly reached in October, fueled by the explosive growth of artificial intelligence and Nvidia’s central role in powering AI technologies. Soaring international demand for the company’s high-performance AI chips has further cemented its position as the undisputed leader in the sector.
Industry data from International Data Corporation (IDC) shows that Nvidia now commands 81 percent of global data center chip revenue, reflecting its near-total dominance of the market. This leadership has driven an extraordinary rally in Nvidia’s shares, which have climbed nearly 12 times since November 2022, following the launch of OpenAI’s ChatGPT.
During the October quarter, Nvidia posted a more than 60 percent increase in revenue and profits compared to the same period last year, comfortably beating analysts’ forecasts on Wall Street.
Nvidia’s meteoric rise highlights the accelerating adoption of AI worldwide and underscores the company’s critical role in shaping the future of next-generation computing.
