A Boring Dystopia

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Nvidia becomes first company to reach $4tn in market value (www.theguardian.com)

submitted 2 days ago by [email protected] to c/[email protected]

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Chipmaker Nvidia became the first public company in history to scale a $4tn market value on Wednesday as its stock price continues a years-long stratospheric rise.

Shares of the top chip designer rose roughly 2.4% to $164, benefiting from the ongoing surge in demand for artificial intelligence technologies. Nvidia’s chips and associated software are considered world leaders for building artificial intelligence products.

Nvidia achieved a $1tn market value for the first time back in June 2023 and the surge continued unabated with its market value – the total value of its shares – more than tripling in about a year, faster than Apple and Microsoft, the only other US firms with a market value of more than $3tn. Apple was the first company to reach a valuation of $3tn, back in 2022.

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[–] [email protected] 0 points 1 day ago (1 children)

If they got broken up years ago

The problem is how do you break up a design team? My experience in hardware industry is that its a very tiny team of people making doing the silicon design and then hundreds/thousands of support engineers doing support hardware (like board layout that the chips will go on), software drivers and testing.

[–] [email protected] 0 points 1 day ago (1 children)

I meant the big tech firms buying nvidia gpus and driving up the share price. If Google/FB/Amazon/etc got broken up, they wouldn’t be trying to squeeze infinite money out of so called AI and nvidia wouldn’t be a $4 trillion balloon.

I don’t think nvidia could be broken up much like you say, but it’s still only worth so much because of all the other monopolies (that’d be easier to break up) paying into it.

[–] [email protected] 0 points 1 day ago (1 children)

If there were more Google/FB/Amazons there would be even more hardware purchases because there would be more companies competing to dominate AI.

[–] [email protected] 0 points 1 day ago

No if they didn’t already dominate their respective markets, they’d have to actually compete against other companies. In a competitive market, there would be no reason to invest hundreds of billions of dollars into LLMs which are unprofitable, inaccurate, and have very limited use cases. AI wouldn’t be a bubble if these companies had any incentive to make good products and competition is supposed to be that incentive.

Maybe down the line, the tech sector would’ve had an AI boom anyway. As it stands however, there is no real race to dominate AI. It’s a scramble to try to sell LLMs as intelligent so they can get AI money without actual AI tech.