Jensen Huang, president and chief executive officer of Nvidia Corp., holds the Nvidia Xavier high-end computing module as he speaks during a keynote presentation at the 2017 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Wednesday, Jan. 4, 2017.
Technology giant Nvidia is hitting new heights thanks to demand for products connected to artificial intelligence, leading the chipmaker to a market value that this week approached that of the entire Canadian economy.Jensen Huang, CEO of Nvidia, holds up one of the company's high-end modules at the 2017 CES show in Las Vegas. Products like this are proving critical to artificial intelligence systems around the world.
By Friday, Nvidia's market capitalization was higher than Amazon or Google's parent company Alphabet.The Nintendo Switch uses some Nvidia components. The California-based company made its name with graphics cards used to drive video games on personal computers.
"Researchers discovered that the graphics chips that Nvidia was developing... lent themselves very well to running AI algorithms," said Emil Savov, managing director of Ontario's MaRS Investment Accelerator Fund.For now, stock market analysts say Nvidia does not have competitors who can match its production of products to support AI.
"Some of the large cloud providers like Google, Microsoft, Amazon Web Services are rumoured, or more than rumoured to be developing their own chips... to lessen, to a certain extent, their dependence on Nvidia," he said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: US futures take time out after breakout rallyStocks are consolidating after Nvidia results sparked a global rally that has the chipmaker eyeing a $2 trillion valuation.
Read more »
How Solana stands to benefit from NVIDIA and the AI hypeThe NVDA meme token on the Solana network experienced an astounding surge, propelled by speculative enthusiasm.
Read more »
US Stocks Slip as Investors Await Nvidia Earnings, Fed MinutesUS stocks slipped on Wednesday as investors counted down to high-stakes earnings from AI darling Nvidia (NVDA) and the release of Federal Reserve minutes which reiterated the central bank's focus on not cutting interest rates too soon.
Read more »
Stock market today: S&P, Dow hit record highs as Nvidia ignites global rallyStocks powered higher as investors celebrated Nvidia's blowout results, which beat sky-high expectations and revived the AI frenzy.
Read more »
Canadian Government Seeks Delay on Expanding Medical Assistance in Dying to Cover Mental IllnessesThe federal government is seeking another delay to the expansion of medical assistance in dying (MAID) provisions to cover mental illnesses. Health Minister Mark Holland and Justice Minister Arif Virani made the announcement, stating that Canada's health system is not ready for the expansion.
Read more »
Canadian political leaders pay tribute to former NDP leader Ed BroadbentPrime Minister Justin Trudeau says Ed Broadbent was a tireless champion for social justice who left Canada a better place. Trudeau made the comments as political leaders past and present from across Canada gathered in the national capital to pay tribute to the former NDP leader.
Read more »