The post Nvidia’s market value doubled in 2024, adding $2 trillion amid AI rally appeared on BitcoinEthereumNews.com.

Nvidia’s market value soared from $1.2 trillion in 2023 to $3.28 trillion in 2024, by massive demand for its AI-powered GPUs. Its data center sales are expected to rise from $110 billion to $200 billion by 2025, with dominance in AI technology. Nvidia was among the greatest Wall Street successes of 2024 as its market valued more than $2 trillion, which is $3.28 trillion at year-end. This made Nvidia the world’s second most valuable company, ranking after Apple with a value of nearly US$4 trillion. Nvidia largely deserves its exponential increase in demand because it’s playing a big role by driving AI-related technology through their chips. Nvidia’s AI dominance Nvidia’s market growth has been rapid, mainly driven by the rising demand for AI. Nvidia’s graphics processing units (GPUs) have become essential for creating and running AI technologies, like ChatGPT. These GPUs are the core of AI models, making Nvidia’s hardware crucial to the AI revolution. With the rise of generative AI technologies, companies like Microsoft, Google, OpenAI, and Cohere turned to Nvidia for its specialized chips to train and run complex AI models. This surge in demand for AI-powered technologies boosted Nvidia’s revenue and market value. From $1.2 trillion at the end of 2023, Nvidia’s market value more than doubled to $3.28 trillion by the end of 2024 with strong investors. This made Nvidia to have competitors like Microsoft and Google. Its stock price soared as investors sought to profit from the booming AI market. As Apple continued to lead in market value, approaching a $4 trillion valuation, driven by its planned AI improvements to boost iPhone sales. By the end of 2024, Microsoft was in third place with a $3.1 trillion market value, while Alphabet and Amazon were valued at about $2.3 trillion each. These major tech companies helped…

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Filed under: News - @ January 3, 2025 1:16 am