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2024 - The Rise of a world’s second most valuable company ‘Nvidia’: From Graphics Giant to Tech Titan

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You will be shocked to know there is a lesser known brand valuable than, Apple, Google, Amazon etc. Its ‘Nvidia’. You read it right it’s Nvidia.

Long known for their dominance in the graphics card market for PC gamers, Nvidia quietly carved a niche in a booming tech sector: artificial intelligence.

Nvidia's ascension to the world's second-largest company by market cap in 2024 caught many by surprise. Nvidia Corporation is a technology company known for designing and manufacturing graphics processing units (GPUs). NVIDIA engineers the most advanced chips, systems, and software for the AI factories of the future. It builds new AI services that help companies create their own AI factories (nvidea website).


The AI powerhouse Nvidia saw its shares surge by 5.2% during June 2024, raising its market capitalisation to $3.02 trillion. This impressive growth has allowed Nvidia to surpass Apple and become the world's second-largest company, behind Microsoft, which holds a market capitalisation of $3.15 trillion.


Jensen Huang founded NVIDIA in 1993 and has served since its inception as president, chief executive officer, and a member of the board of directors. 

Fueled by the ever-growing demand for high-performance computing in AI, Nvidia's graphics processing units (GPUs) proved perfectly suited for the complex calculations required for machine learning. Tech giants like Microsoft, Google, and Meta snapped up Nvidia's powerful chips to fuel their AI ambitions. This surge in demand, coupled with a strong showing in the traditional gaming market, propelled Nvidia's stock price to new heights.

Image source: https://officesnapshots.com/2018/10/15/nvidia-headquarters-santa-clara/

Nvidia's supply chain allowed it to produce GPUs in larger volumes, faster, and more reliably, than its rivals. While Nvidia wasn't exactly silent – they've been at the forefront of AI technology for years – their focus wasn't necessarily on grabbing headlines. They concentrated on building best-in-class hardware that catered to a specific, rapidly growing need. This strategic approach, combined with a strong performance in the core gaming market, has propelled them to the top of the tech world.

You might have read in school ‘Slow and steady wins the race’.

Source: 

‘Edu research and insights’ and Google Gemini AI.


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