James Check, lead analyst at Glassnode, noted that tech giant Nvidia has now overtaken Bitcoin in terms of search interest.
James Check, lead analyst at Glassnode, noted that tech giant Nvidia has now overtaken Bitcoin in terms of search interest.
As reported by U.TodayThe chipmaker managed to surpass Microsoft in market capitalization last week, becoming the most valuable company in the world for the first time.
Shares of the Santa Clara, California-based company have risen a staggering 162% on the current artificial intelligence (AI) boom. Nvidia accounts for about 90% of the GPU chip market, which is why it is flourishing during the AI-obsessed technological era.
According to a recent report According to Bloomberg, Wall Street is struggling to predict Nvidia’s revenue as it is unclear how many GPUs it will sell amid growing demand.
Alex DovbnyaNvidia is already the most expensive stock in the S&P 500 after this year’s huge rise. While this valuation may seem reasonable given the growing demand for GPUs, some analysts are also concerned that the stock is in an AI-driven tech bubble.
Many have compared Nvidia’s headline-grabbing rise to that of computing giant Cisco. In March 2000, Cisco briefly surpassed Microsoft to become the most valuable company in the world. The Internet equipment maker was booming during the dot-com boom, with its market capitalization topping $575 billion. By comparison, Cisco’s market capitalization currently stands at just $190 billion, less than half its peak value 24 years ago.
Alex DovbnyaLast week, The Information reported that Nvidia CEO Jensen Huang was worried that Nvidia could end up being a fad like Cisco. His main concern appears to be that there won’t be enough space in the data center to install the company’s AI chips.
