Chipmaker Nvidia has reached a $1 trillion valuation thanks to the AI boom
profit of more than $2 billion and revenue of $7 billion, both exceeding Wall Street’s forecasts.
Industry experts believe Nvidia, based in Santa Clara, California, could be an early look at how AI may reshape the tech sector. The company was founded in 1993 and initially focused on 3D graphics and gaming. Co-founder Jensen Huang remains the company’s president and chief executive. AI chips are designed to perform artificial intelligence tasks faster and more efficiently. While general-purpose chips like CPUs can also be used for simpler AI tasks, they’re “becoming less and less useful as AI advances,” a 2020Nvidia’s chips are used in applications ranging from robotics and the metaverse to medical imaging and video analytics.
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