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It seems multiple uncertainties have not impacted the business of Nvidia materially. Shares of AI chipmaker Nvidia has surged nearly 24% over the past month as company's business has been growing even though the headwinds in terms of export control and tariff shocks.
Nvidia passed Microsoft in market cap on Tuesday, once again becoming the most valuable publicly traded company in the world. The company now has a $3.45 trillion market cap. Microsoft closed Tuesday with a $3.44 trillion market cap.
What fuels the outperformance of Nvidia is its earning which has been keeping growing. Last week, Nvidia reported 96 cents in adjusted earnings per share on $44.06 billion in sales in its first fiscal quarter, which represented 69% growth from the year-ago period, an incredible growth rate for a company as large as Nvidia.
Nvidia’s growth has been boosted by its AI chips, which are used by companies including OpenAI to develop software such as ChatGPT. Also Companies including Microsoft, Meta, Google, Amazon, Oracle and xAI have been purchasing Nvidia’s AI accelerators in massive quantities to build ever-larger clusters of computers for advanced AI work.
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