Silicon Valley-based Nvidia sees earnings soar, cementing dominance in AI

Santa Clara -based Nvidia says it is now the third most valued company behind Microsoft and Apple. The tech company’s stock has risen more than 200% in the past year.Nvidia shares rose 6% in after-hours trading to over $1,006, and the company increased its dividend by $.06 a share. Nvidia also announced on Tuesday that it is expanding its collaboration with Microsoft, as it becomes the dominant player in artificial intelligence."Nvidia is the one who controls the market.

Thousands of companies, including Amazon, Google, Meta, and Microsoft, are signaling their plans to incorporate AI systems into their operations."There are about 20,000 AI startups lining up for any available chips coming from Nvidia," said Banafa. "Nvidia has the best chips available on the market right now."Nvidia’s net income has jumped from $2.04 billion to $14.88 billion over the last year. Analysts say the gains are fueled by the demand for A.I.

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