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AI chip firm Nvidia valued at $2tn

23 February 2024

Image source, EPA-EFE/REX/Shutterstock

Image caption,

Advances in AI have powered demand for chips, including from Nvidia

Nvidia’s market value has touched $2tn (£1.58tn), a new milestone in the chipmaker’s rapid ascent into the ranks of the world’s most valuable companies.

Shares in the Silicon Valley firm rose more than 4% in morning trade on Friday before dropping back a bit.

The gains extended a jump after the company’s blockbuster earnings report this week.

The company is benefiting from advances in artificial intelligence (AI), which have powered demand for its chips.

Turnover at the firm more than doubled last year to more than $60bn, and boss Jensen Huang told investors this week that demand was “surging” around the world.

Image source, Getty Images

Image caption,

Nvidia president Jensen Huang told investors demand for chips was surging.

The company, which became…

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