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The uptick is likely due to NVIDIA’s connection to artificial intelligence.
Microsoft incorporatingChatGPT into BingandGoogle announcing its Bard chatbotput even more of a spotlight on AI.
That power comes largely from chips made by companies like NVIDIA.
Researchers estimate thatChatGPT needs 30,000 NVIDIA A100 GPUs to operate.
The company sat at a total market cap of almost $690 billion on April 19, 2023.
This year alone, NVIDIA’s market cap has gone up $329 billion.
Stock value fluctuates quickly, making any individual day too small of a sample size to measure a company.
But overall trends can provide insight.
NVIDIA stock peaked at $329.85 back in November 2021 (viaYahoo).
It dipped to as low as $112.27 in October 2022.
It then climbed a bit to 146.12 to end the year.
Of course, AI isn’t the only source of demand for NVIDIA chips.
GPUs from the company, such as those in theRTX 40 Series, are popular among gamers and creators.
Microsoft has reportedly beentesting its own AI chip, which is codenamed Athena, since 2019.
