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Nvidia's market value surges due to AI prominence rather than GPUs
Nvidia, the Californian tech company known for its PC GPUs, has seen a surge in market value, briefly overtaking Apple …
Image credit: LSEG / Reuters The reason for Nvidia's increased market value is it's become the dominant supplier of processors used in AI computing, which requires huge amounts of processing power. "More companies are now embracing artificial intelligence in their everyday tasks and demand remains strong for Nvidia chips," Russ Mould, investment director at AJ Bell, told Reuters. "It is certainly in a sweet spot and so long as we avoid a big economic downturn in the United States, there is a feeling that companies will continue to invest heavily in AI capabilities, creating a healthy tailwind for Nvidia."
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