Nvidia is the second most valuable company in the world, with a market capitalization of over $3 trillion. When the market closed on Monday, shares of the AI chipmaker hit an all-time high of $138.07 before falling to $131.32 at the time of writing.
Nvidia’s performance is tied to strong demand for its AI chips. Nvidia CEO Jensen Huang recently revealed that demand for Nvidia’s Blackwell AI chip is “crazy” and “everyone wants to have more.” Nvidia expects to ship enough new chips to make several billion dollars.
Nvidia was on the verge of briefly dethroning Apple as the world’s most valuable company on Monday. Last week, Nvidia shares increased by $400 billion in five days, more than the entire market cap of Costco.
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Huang also said last month that demand is her biggest problem, anything that keeps her up at night.
“We have a lot of people on our shoulders, and everyone is counting on us,” he said, adding that access to Nvidia’s technology was a “really emotional” point for the company’s customers.
Nvidia counts major technology players among its customers: Amazon, Meta, Microsoft, and Google contribute more than 40% of revenue. Nvidia’s profit exceeded analyst expectations last quarter, with revenue growing 122% year over year, the fourth quarter in a row of more than 100% growth.
Related: Nvidia Profits More Than Double, But Traders ‘Still Pulling Back.’ Here’s Why According to a Market Expert.
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