economie

Nvidia is no household name — but may soon overtake Microsoft and Apple

Nvidia is based in Santa Clara, California.

  • Nvidia could soon become the world’s most valuable company.
  • That’s despite the chipmaker being no household name or big consumer brand such as Apple or Amazon.
  • Investors are betting the maker of graphics chips will play a crucial role in the AI revolution.

It’s a little weird to think a business that many people have never heard of or bought anything from — and has a name they don’t know how to say — could soon become the . As a result, Nvidia’s revenue more than doubled to $61 billion last year, fueling a nearly sevenfold rise in net income to $30 billion.

For comparison, Apple’s sales hit $383 billion and profits were $97 billion last financial year, but it’s growing far more slowly.

It’ll be fascinating to see whether Nvidia becomes a major consumer brand over time, or keeps powering other companies’ AI efforts while largely staying out of the spotlight.

Read the original article on Business Insider

https://www.businessinsider.com/nvidia-stock-price-apple-microsoft-big-tech-ai-valuation-microchips-2024-5