Nvidia overtakes Amazon and Alphabet, becomes fourth most valuable company

Nvidia has overtaken both Amazon and Alphabet in market value, now ranking as the world's fourth most valuable company.

This leap is fueled by Nvidia's lead in AI chip technology, with its H100 chip powering major AI projects like OpenAI's ChatGPT and those of Microsoft, Meta, and Amazon.

Despite competition from tech giants developing their own GPU chips, Nvidia maintains its dominance. In fact, it earns revenue from selling AI chips even to its rivals. With the upcoming release of its superior H200 chip, Nvidia aims to further strengthen its position.

While competitors like Intel and AMD are working on their own powerful chips, Nvidia's investments in custom AI chip development keep it ahead in the race.