The GPU-making company has observed a phenomenon of price increases over the past year, all thanks to the takeover of AI in every possible field. Nvidia CEO, Jensen Huang predicted the change in tech trend and claims to be at least a decade ahead to other tech biggiesNew lion in the jungle The stock market observed a big shift on Tuesday Nvidia became the most valued public company, beating Microsoft and Apple to the top. Nvidias rise to the top is credited to the boom in AI and a skyrocketing demand for the companys graphical chips, which are an essential component for building generative AI they are called GPUs (graphics processing units). These chips have proved to be the backbone of AI generation.History madeNvidia has grown at the fastest pace in the history of the stock market. In the span of 2 years, the value of the company went from 400 billion dollars to 1 trillion dollars in the next year and jumped directly to over 3 trillion dollars in the span of 2 years. On June 18, the price of Nvidia shares rose up to 3.6%, taking the value of the company to 3.34 trillion dollars, giving a checkmate to the silicon valley giants Apple and Microsoft, respectively. Importance of AI This turn of events clearly shows how artificial intelligence has turned the market upside down. Earlier in January, Microsoft had achieved the pinnacle of the market, uprooting Apple from its place. To gain its place again in the competition, Apple is planning to add AI technology to iPhones that are to be released this fall. Years before Nvidia became the stock market king, its CEO, Jensen Huang, placed immense trust in GPUs, claiming that they were an inseparable component of building AI, and bought changes according to what he thought to be the next tech breakthrough.His predictions came true. Now Nvidia is the deciding factor in building IA, having autonomy on around 80% of the chips used to build large data computers and AI as well as supercomputers
