The top GPU maker, Nvidia, surpassed analysts’ forecasts, posting $26B in AI-fueled Q1 revenue, 18% more than the prior quarter, thus propelling its market cap over $2.5 trillion after hitting $1,000.01 in after-market trading on May 22.
Nvidia’s market cap now surpasses Tesla and Amazon combined, doubling Bitcoin’s value and quintupling Ether’s. Five years ago, it stood at $100 billion, propelling Nvidia to the third-largest public company globally, nearly rivaling Apple.
Nvidia’s data center revenue soared to $22.6 billion, driven by rising demand for generative AI training. CEO Jensen Huang announced a shift to AI Factories and confirmed plans to release new AI chips annually, starting with Blackwell for trillions of parameters in generative AI supercomputing.
Nvidia is also scaling up collaborations with AWS, Google Cloud, Microsoft, and Oracle for the development of generative AI. While gaming revenue slightly declined, Nvidia remains focused on AI advancements in automotive, robotics, healthcare, and semiconductor industries.
Nvidia’s remarkable Q1 performance, surpassing analyst expectations and driving its stock to an all-time high, underscores its dominance in the AI market and positions it as a formidable force even against tech giants like Tesla and Amazon.
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