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
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”.