"Nvidia Hits $2 Trillion Valuation Riding the AI Wave"
Nvidia has become the first chipmaker to reach a $2 trillion market capitalization, largely due to its dominance in the AI chip market. The company's shift from gaming and graphics GPUs to high-powered H100 AI chips has propelled its rapid growth, with a record $60.9 billion in revenue in 2023. Nvidia's upcoming release of the H200 GPU and plans to develop custom AI chips for other companies further solidify its position in the industry, despite competition from the likes of Microsoft, OpenAI, and Intel.