Nvidia, the computing chipmaker company, has seen its stock rise to new levels, pushing it into a valuation over $1 trillion, Reuters reports. Nvidia already dominates the ever growing computer gaming industry by having a monopoly on high-end graphic processing units. It released a quarterly report estimating a revenue growth of over 50% compared to its previous expectations.
AI’s recent breakthrough is largely responsible for Nvidia’s shares skyrocketing 45% in 45 days. For instance, the leading AI company Chat GPT relies on Nvidia to power its increasingly growing operation. Nvidia has also made forays into connecting self-driving cars and crypto applications, further boosting its central role in the new computing revolution.
Nvidia, an American company, relies on chipmaking capabilities based in Taiwan. This long supply chain has already come under scrutiny during Covid, but is now at risk of Chinese disruption should a conflict occur in the Taiwan Straits. Back in July 2022, Representative Pelosi offloaded $4.1 million worth of Nvidia stock at a loss according to Forbes, showing perhaps the first time that she has not profited from a huge upswing in the stock market.
