The renowned chipmaker Nvidia has reached a significant milestone in its history by achieving a market capitalization of $1 trillion. This accomplishment places Nvidia in an elite group of companies on Wall Street, becoming only the ninth globally and the sixth currently holding such a distinction. The esteemed $1 trillion club includes tech giants such as Apple, Microsoft, Alphabet, Amazon, and Saudi Aramco. Tesla and Meta were previously a part of this club, but they are now far outside.
The recent surge in demand for Nvidia’s AI chips played a pivotal role in the company’s remarkable achievement. Last week, Nvidia stunned Wall Street with its outstanding earnings report and an exceptionally robust revenue forecast for the forthcoming year. The flourishing AI industry, in particular, has been a driving force behind this success, propelling Nvidia’s share prices and securing its position as one of the largest publicly traded companies worldwide.
Nvidia’s chips are specifically designed to power generative AI, a branch of artificial intelligence that enables the creation of new content, such as text and images, based on user prompts. This technology is at the core of innovative AI applications like ChatGPT, Google’s Bard, and Dall-E, among others.
In the previous quarter, Nvidia’s profits soared by 26%, reaching a remarkable $2 billion, while its sales rose by 19% to $7.2 billion, surpassing the expectations of Wall Street analysts. Furthermore, the company’s outlook for the current quarter exceeded predictions by a significant margin of approximately 50%.
Throughout the year, Nvidia’s stock has experienced a remarkable increase of around 180%, highlighting investors’ growing confidence in the company’s potential. Commenting on Nvidia’s exceptional performance, Dan Ives, an analyst at Wedbush Securities, stated, “Nvidia gave jaw-dropping robust guidance that will be heard around the world and shows the historical demand for AI happening now in the enterprise and consumer landscape. For any investor calling this an AI bubble (crypto, metaverse, now AI bubble thesis), we would point them to this Nvidia quarter and especially guidance which cements our bullish thesis around AI and speaks to the 4th Industrial Revolution now on the doorstep with AI.”
To maintain its membership in the $1 trillion club, Nvidia shares need to remain above $404.86. Currently, the stock is trading at $408.50, indicating the company’s strong market position and continued investor confidence.
Nvidia’s remarkable achievement is not only a testament to its own success but also a reflection of the growing prominence of AI technology across various sectors. As AI continues to revolutionize industries, Nvidia’s position as a leading provider of AI chips places it at the forefront of the fourth industrial revolution, where AI is poised to shape the future of technology and drive innovation in countless domains.
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Contributed by Luong Tuan Linh
In a recent report released by the World Bank, East Asia and Pacific (EAP) economies are showcased as beacons of growth, surpassing global averages. However, the region faces impending headwinds, notably from China, casting a shadow over its growth trajectory for 2024.
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In a highly anticipated market debut, Reddit stock took off, closing its first day of trading with a staggering 48% surge from its initial public offering (IPO) price of $34 per share. The social media giant’s stock concluded the day at $50.44, propelling its market capitalization to over $8 billion.
In a significant move in Vietnam’s corporate landscape, Vingroup, the country’s largest conglomerate, has completed the sale of a 41.5% stake and other assets in its retail arm, Vincom Retail, for a staggering $1.6 billion. This transaction ranks among the largest mergers and acquisitions (M&A) deals in Vietnam in recent years, underscoring the dynamism of the country’s economy and corporate sector.
The integration of artificial intelligence (AI) into various facets of healthcare has revolutionized patient care, and its impact on surgery is poised to be profound. Leveraging AI’s capabilities to connect, analyze, and predict based on operating room data holds the promise of enhancing surgical efficiency and clinical decision-making. Recognizing this potential, NVIDIA has partnered with Johnson & Johnson MedTech to explore new AI capabilities within the realm of surgery, with the goal of advancing the company’s connected digital ecosystem for surgical procedures.
Apple is reportedly in discussions with Alphabet, Google’s parent company, regarding the licensing of Google’s “Gemini” artificial intelligence (AI) training model for integration into iPhones.
An Illinois jury has delivered a significant verdict in a case involving Mead Johnson’s Enfamil baby formula, ordering the company to pay $60 million to the mother of a premature baby who died from an intestinal disease after consuming the formula.
In the fast-paced world of software development, innovation is the name of the game. Cognition, a leading tech company, has introduced a groundbreaking solution that promises to transform the industry as we know it: Devin AI, the world’s first AI software engineer. Devin AI is not just another tool in the developer’s toolbox; it’s a game-changer that leverages the power of artificial intelligence and machine learning to automate coding tasks and streamline the development process.
When it comes to acing a job interview, there are certain tactics that can help you stand out and impress prospective employers. From showcasing your passion for the role to demonstrating problem-solving skills, there are plenty of strategies to employ. However, it’s equally important to be mindful of phrases that could raise red flags during the interview process.
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Vietnam received recognition in the 29th World Travel Awards in numerous categories
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First NFT vending machine in the world is now operational in New York
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The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
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