AI boost pushes Apple further away from Microsoft.
Apple has been knocked off its second most valuable company in the world perch by none other than the AI craze. The revenue boost that NVIDIA got from selling something that is still called GPU but is actually a chip tailored to make AI calculations, has been so significant, that its market capitalization has now broken the $3 trillion mark.
On May 22, NVIDIA reported a revenue of $26.0 billion, an 18% from Q4, and the whopping 262% boost year-on-year. The AI craze brought NVIDIA $60.92 billion in revenue for last year, a 125% increase, too.
Revenue is one thing, but actual profit is an even rosier story, as NVIDIA logged a breathtaking 629% profit per share increase year-on-year.
