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Nvidia Earns 2024’s Biggest Gain in Market Cap Amid AI Boom | PYMNTS.com

Jan 03, 2025 - pymnts.com
The AI boom significantly boosted Nvidia's market capitalization, making it the second-most valuable listed company globally in 2024, with a market value rising from $1.2 trillion at the end of 2023 to $3.28 trillion by the end of 2024. This surge was driven by high demand for Nvidia's AI chips. Apple maintained its position as the world's most valuable company, nearing a $4 trillion valuation due to anticipated benefits from AI enhancements. Microsoft, Alphabet, and Amazon rounded out the top five companies in market value, with valuations of $3.1 trillion and about $2.3 trillion each, respectively.

The tech industry's explosive growth, fueled by AI, has led to increased revenues and investments, particularly in AI-focused companies. Venture capital in the U.S. has shifted significantly towards AI, with Nvidia advancing its market position through new hardware and partnerships. The company launched the Blackwell B100 and B200 GPUs, enhancing generative AI capabilities, and introduced the Jetson Orin Nano Super Developer Kit to support smaller developers. Nvidia CEO Jensen Huang highlighted the ongoing growth and modernization in AI services, predicting the creation of a new industry over the coming years.

Key takeaways:

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  • Nvidia became the second-most valuable listed company in 2024 with a market value surge to $3.28 trillion, driven by demand for AI chips.
  • Apple maintained its position as the world's most valuable company, nearing a $4 trillion valuation due to anticipated benefits from AI enhancements.
  • The AI boom has led to significant growth in the tech industry, with venture capital investments in AI companies reaching unprecedented levels.
  • Nvidia strengthened its AI market leadership with new hardware, tools, and partnerships, including the launch of Blackwell GPUs and the Jetson Orin Nano Super Developer Kit.
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