Tech

Nvidia nears market milestone, set to overtake Amazon in value

Published

3 months ago

February 14, 2024

Nvidia is on the verge of achieving another significant milestone in the market, as the chip maker rides the wave of AI.

With a current market value of approximately $1.8 trillion, Nvidia is poised to surpass Amazon.com as the fourth most valuable company in the United States, according to data from Dow Jones Market Data.

Amazon’s market value stands at $1.76 trillion as of the latest figures.

The impending achievement marks a remarkable shift in fortunes since the last time Nvidia held a higher market value than Amazon.

This occurred in April 2002, a time when both companies were valued at less than $6 billion.

Amazon opens first physical fashion retail store | Reuters

Tech growth

The substantial growth in Nvidia’s market value underscores the evolution of the tech industry and Nvidia’s pivotal role within it.

From its origins as a niche player to its current position as a key player in multiple sectors including gaming, data centers, and artificial intelligence, Nvidia has experienced a remarkable ascent.

The milestone not only reflects Nvidia’s own success but also highlights the dynamic nature of the market and the shifting fortunes of major corporations.

As Nvidia closes in on Amazon’s market value, it signifies a significant shift in the hierarchy of the U.S. market and underscores the ever-changing landscape of the tech industry.

Shows

Is GenerativeAI transforming education?

Published

6 hours ago

May 3, 2024

ticker NEWS

Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

News

How AI is leveraging Amazon’s fast production

Published

1 day ago

May 2, 2024

Nathan Langridge

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

Tech

Tesla is slashing prices to stay competitive

Published

2 weeks ago

April 21, 2024

Reuters

Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.

Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.

On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.

Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.

The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.