NVIDIA's market value briefly exceeded that of Amazon.com today, Monday, as the boom in the artificial intelligence sector propelled the chipmaker to the fourth position in terms of value among U.S. companies. With its stock reaching an unprecedented level of $734.96, NVIDIA's market value rose to $1.82 trillion, compared to $1.81 trillion for retail giant Amazon, putting it a few billion behind Alphabet, the owner of Google, which is valued at $1.87 trillion. The last time NVIDIA surpassed Amazon's value was in 2002 when both were valued at less than six billion dollars.
After Amazon announced higher-than-expected quarterly sales last month during the holiday season, investors are now looking forward to NVIDIA's quarterly results, scheduled to be released on February 21, the last major company to announce its results in the current season. Expectations are growing ahead of the report, as shares have risen 47 percent since the beginning of the year, making it the biggest winner among stocks listed on the S&P 500 index.
NVIDIA's impressive quarterly results and strong forecasts from the previous year positioned the chipmaker at the forefront of the supply chain for technology companies working on what is known as generative artificial intelligence, including chatbots and image generation. The strong demand for artificial intelligence tools has driven NVIDIA's shares, making it the best-performing stock among the seven major companies with a rise of 223 percent over the last 12 months. Meta Platforms follows in second place with a 163 percent increase. In January, Microsoft surpassed Apple to become the world's most valuable company, with Alphabet in third place.
