NVIDIA Adds More to Its Market Capitalization in a Single Day Than Its Cumulative Profits Since 2019
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On a day that saw the second-largest bank failure in US history, coupled with an ISM print that screamed stagflation, NVIDIA shares reached a fresh 1-year high, propelled by the ongoing mania around everything AI-related.
NVIDIA announced on Monday that its first DGX H100 systems are now being shipped to customers all around the world. As a refresher, the Hopper H100 GPU is touted as the world’s fastest data center chip. Based on TSMC’s 4nm node, the GPU delivers up to 4,000 TFLOPs of AI computing power.
Concurrently, investor hype continues to build over NVIDIA’s AI Foundation Services – a veritable suite of cloud-based offerings that enable clients to create and run customized generative AI models. Powered by NVIDIA’s AI supercomputers under the ambit of the DGX Cloud, the AI Foundation Services can be classified into three main categories: NeMo for text-based generative AI applications, Picasso for image-based AI applications, and BioNeMo for applications related to protein structure, sequencing, and molecular docking. Additionally, NVIDIA has also introduced NeMo Guardrails, an open-source toolkit that is designed to ensure security for Large Language Models (LLMs) via a range of programable constraints.
$NVDA just casually gained $31bn in market cap today… while the Nasdaq is red. That’s more “value created” in a single day in than its entire profit from the last six years combined (2017-22)!
Panic-buying of that sweet, future AI money nectar continues.
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