The company's H100 accelerators have seen surging demand, driving sales up by more than 125% last year. Nvidia's rapid rise has also made its co-founder and CEO, Jensen Huang, one of the world's richest people, with a net worth of $119 billion. The company's shares have risen more than 170% in 2024, adding more than $2 trillion to its market capitalization.
Key takeaways:
- Nvidia Corp. has become the world's most valuable company with a market value of about $3.3 trillion, surpassing Microsoft Corp. and Apple Inc.
- The company's stock rose 3.5% to close at $135.58 a share Tuesday, driven by the ongoing artificial intelligence wave.
- Nvidia's GPU chips, which power data centers running complex computing tasks required by AI applications, have seen surging demand, driving the company's sales up by more than 125% last year.
- Nvidia's co-founder and CEO Jensen Huang's net worth has climbed nearly $75 billion since the beginning of the year to $119 billion, making him one of the world's richest people.