Nvidia becomes world's most valuable company thanks to AI server orders from partners

From Nasdaq: 2024-06-20 16:19:39

Nvidia becomes the world’s most valuable company, with shares hitting a record high thanks to server orders from Elon Musk’s AI startup for partners Dell and Super Micro. Market cap set to increase by $84 billion, surpassing Microsoft. Dell and Super Micro shares soar, riding on the demand for AI processors.

Musk’s AI startup, xAI, partners with Dell and Super Micro for server racks equipped with Nvidia chips to power AI applications like the Grok tool. Training Grok 2 model used 20,000 Nvidia H100 GPUs; future models will require 100,000 Nvidia H100 chips. Nvidia’s stock nearly triples this year, boosting overall market gains. Super Micro and Dell shares also surge.



Read more at Nasdaq: Nvidia Surpasses Microsoft to Become World’s Most Valuable Company