Nvidia, now worth more than $2 trillion
Nvidia’s shares rose dramatically on Friday after its earnings call, taking its valuation above $2 trillion, and making its founder, Jensen Huang, some $10 billion richer.
I said a little more than a week ago that the sky was the limit for the chipmaker, because amid the intelligence gold rush, because it makes the best sieves and shovels. A company that experienced some joys with the fever for bitcoin mining or the growth of gaming during the pandemic, but that was always, in reality, waiting for its moment, when every company on the planet would be competing for computing power.
AI is in the same place the internet was at the end of the ’90s: we know there will be a crisis of confidence, that some will dismiss the whole thing as a bubble and that companies will play for high stakes and go out of business, but we also know that soon, algorithms will be everywhere, Companies that do not know how to develop or use them will be uncompetitive, and we will be using use algorithms on an everyday basis.
