Stock Take

Chips with everything: What Nvidia’s $2trn valuation means for Intel in Ireland

Intel has in recent days effectively announced the splitting of the business into two as it aims to get in on the AI action

Jensen Huang, founder and chief executive of Nvidia. Nvidia’s market capitalisation has jumped by more than $400 billion in the year-to-date bringing its valuation to $2 trillion on Friday.

Cutting edge chip maker Nvidia’s surge to a $2 trillion valuation was enough to invigorate even the most hardened of markets veterans.

The Financial Times likened some investors and analysts’ anticipation as the type usually reserved for the release of inflation data.

The excitement was well justified when the company posted a whopping 265 per cent increase in quarterly revenues to $24 billion, and forecast even stronger sales as the year progresses.

Jensen Huang, Nvidia’s founder and chief executive, said accelerated computing and generative AI have reached a “tipping point”.