Digital Health
Red-hot stock: $1 trillion club now includes chip maker Nvidia
Nvidia has joined the exclusive club of companies with a $1 trillion market capitalization as the chipmaker benefits from the growing use of artificial…
Nvidia has joined the exclusive club of companies with a $1 trillion market capitalization as the chipmaker benefits from the growing use of artificial intelligence.
Nvidia Corp. joins tech titans like Alphabet, Apple and Microsoft in the $1 trillion club. Its stock rose 5% in Tuesday trading, eclipsing $408 per share. Since its initial public offering in 1999, the stock is up roughly 33% annually compared with an average annual gain of 7% in the benchmark S&P 500 index over the same time.
Last week the maker of graphics chips for gaming and artificial intelligence reported a quarterly profit of more than $2 billion and revenue of $7 billion, both exceeding Wall Street’s forecasts.
Industry experts believe Nvidia, based in Santa Clara, California, could be an early look at how AI may reshape the tech sector. The company was founded in 1993 and initially focused on 3D graphics and gaming. Co-founder Jensen Huang remains the company’s president and chief executive.
AI chips are designed to perform artificial intelligence tasks faster and more efficiently. While general-purpose chips like CPUs can also be used for simpler AI tasks, they’re “becoming less and less useful as AI advances,” a 2020 report from Georgetown University’s Center for Security and Emerging Technology notes.
Nvidia’s chips are used in applications ranging from robotics and the metaverse to medical imaging and video analytics.
The post Red-hot stock: $1 trillion club now includes chip maker Nvidia first appeared on WRAL TechWire.
Keep it Short
By KIM BELLARD OK, I admit it: I’m on Facebook. I still use Twitter – whoops, I mean X. I have an Instagram account but don’t think I’ve ever posted….
Asian Fund for Cancer Research announces Degron Therapeutics as the 2023 BRACE Award Venture Competition Winner
The Asian Fund for Cancer Research (AFCR) is pleased to announce that Degron Therapeutics was selected as the winner of the 2023 BRACE Award Venture Competition….
Seattle startup Olamedi building platform to automate health clinic communications
A new Seattle startup led by co-founders with experience in health tech is aiming to automate communication processes for healthcare clinics with its software…
