Nvidia: the sky’s the limit
Nvidia’s valuation, which since late 2022 has skyrocketed, surpassed Amazon’s this week, and could be about to overtake Alphabet to become the fourth or even the third most valuable company in the United States. A company I have written about recently, the kind that spends 30 years making decisions that are difficult to explain to stock market analysts obsessed with short-termism, only to finally succeed “overnight”.
Nvidia’s founder, Jensen Huang, whose family moved to the United States when he was nine, predicted many years ago that computing needs would skyrocket at some point, that the logical thing to do was to carry out these general purpose computing processes on graphics processing units (GPUs) and that to get to that point, research and development efforts had to be concentrated, without being distracted by siren songs such as the opportunity presented by the growth of the smartphone market.
Today, Huang, in addition to being number 21 on the Bloomberg Billionaires Index, is a manager with a reputation as a visionary, who had to watch as a bunch of analysts who do their job no better than a…
