Nvidia to Reach $50 Trillion Market Cap, Predicts Early Investor in Amazon and Tesla
Money | July 16, 2024, 4:14 p.m.
Nvidia's market capitalization has skyrocketed to $3.1 trillion in just 12 months, and tech investor James Anderson predicts it could soar even higher, potentially reaching double-digit trillions. The chipmaker's success in AI has created half-a-million new millionaires and positioned it alongside tech giants like Amazon and Google. Anderson's projections, although bold, have been right in the past, with investments in Amazon and Tesla yielding significant returns. While some experts question Nvidia's ability to sustain its growth in the long term, others believe its dominance in the GPU semiconductor market will keep it at the forefront of AI development for years to come. Despite concerns about a potential slowdown in chip demand, Nvidia's continued expansion seems likely as the world increasingly relies on artificial intelligence technology.