Nvidia has eclipsed Tesla, becoming the darling of Wall Street with its shares emerging as the most actively traded in the United States. The tech giant, renowned for its cutting-edge graphics processing units (GPUs), has announced a staggering 265% revenue increase year-on-year, a testament to the burgeoning appetite for AI technology.
The company’s fourth-quarter earnings report unveiled a jaw-dropping $22.1 billion in revenue, marking a 22% rise from the previous quarter and a 265% leap from the same period last year. Nvidia’s market capitalization now stands at a colossal $1.67 trillion.
This financial feat coincides with Nvidia’s stocks being the most exchanged on Wall Street, with around $30 billion worth of shares traded over the past 30 sessions. This figure surpasses Tesla’s average trading volume, highlighting the tech firm’s ascension to the pinnacle of investor attention.
The surge in Nvidia’s fortunes is largely fueled by the global clamor for AI-driven computing, with the Nvidia RTX series becoming the cornerstone for AI developers, gamers, and content creators alike.
Adding to the buzz, Elon Musk of Tesla has earmarked over $500 million to secure AI hardware from Nvidia for the upcoming year, underlining the critical role of high-powered computing in AI competitiveness.
