Market research company IDTechEx recently published a report that forecasts Nvidia‘s continued dominance not just on the GPU stage but more specifically as AI hardware leaders, with the company taking a considerable percentage of the forecast US$257 billion AI chip revenue as of 2033.
While the current AI boom is only just getting started, an early winner is Nvidia, who – on Tuesday, May 30th – saw the company’s market capitalization exceed US$1 trillion for the first time. For a chip designer with no fabrication capabilities of its own, this is a significant moment. Hovering at around US$970 billion as of 1st June, the momentary increase in share price saw Nvidia join an elite club occupied by only five other companies currently: Apple, Microsoft, Alphabet, Amazon, and Saudi Aramco. Previously, only three other companies (Tesla, Meta and PetroChina) have also crossed the US$1 trillion threshold.
Nvidia’s share price has increased roughly 170% since the beginning of the year, growth that has outpaced other members of the S&P 500 index. That growth is directly correlated to the increasing awareness and use of AI tools, and the potential for impact on business and consumers alike.