Tech shares race ahead as Nvidia delights with AI-driven doubling of revenue

Amazon Reaches $2 Trillion in Stock Market Value

Amazon Reaches $2 Trillion , in Stock Market Value. On June 26, Amazon became the 5th American company to join the $2 trillion club, NPR reports. . Amazon shares ended the day up nearly 4%, giving the company a $2.01 trillion stock market valuation. . Within the past year, Amazon's stock has gained 52%. Part of that gain can be attributed to investors' enthusiasm about the company's AI endeavors, NPR reports. . A big part of the valuation boost has been cloud and AI. Amazon is going to be a major player in the AI revolution, Dan Ives, Wedbush tech analyst, via NPR. Amazon currently has a chatbot called Q, which businesses that use AWS have access to. . Amazon currently has a chatbot called Q, which businesses that use AWS have access to. . Amazon CEO Andy Jassy recently said that AI has rejuvenated the growth of AWS. The cloud computing unit is reportedly on pace to bring in $100 billion in annual revenue. Amazon recently invested in Anthropic, a California AI company, "to develop so-called foundation models that underpin generative AI systems," NPR reports. . Amazon also makes its own AI chips. The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia. . The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia. . The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia. . The other four U.S. companies that belong to the $2 trillion club are Google, Microsoft, Apple and Nvidia.

Nvidia Rides Wave of AI Interest to Overcome Apple as the Second-Most Valuable Company

Nvidia Rides Wave of AI Interest , to Overcome Apple as the, Second-Most Valuable Company. 'The Independent' reports that Nvidia has overtaken Apple as the world's second-most valuable company, with an estimated value of over $3 trillion. 'The Independent' reports that Nvidia has overtaken Apple as the world's second-most valuable company, with an estimated value of over $3 trillion. The chipmaker has seen share values skyrocket amid speculation about artificial intelligence, which is powered by chips like those produced by Nvidia. The growing interest in AI has made Nvidia the biggest company in Silicon Valley, allowing it to unseat Apple. . The growing interest in AI has made Nvidia the biggest company in Silicon Valley, allowing it to unseat Apple. . Meanwhile, the iPhone maker has seen its own value fall amid concerns such as dwindling sales in the Chinese market. Nvidia now has plans to split its stock ten-for-one on June 7, a decision that has the potential to attract more individual investors. Nvidia is making money on AI right now, and companies like Apple and Meta are spending on AI, Jake Dollarhide, chief executive officer at Longbow Asset Management, via 'The Guardian'. It may be a foregone conclusion that Nvidia will overtake Microsoft as well. There’s a lot of retail money that’s piling in on what they see as a straight shot up, Jake Dollarhide, chief executive officer at Longbow Asset Management, via 'The Guardian'. So far in 2024, Nvidia has seen its stock surge 147%, rallying nearly 30% since May alone when the company released its latest revenue forecast. On June 5, the chipmaker added almost $150 billion in market capitalization, which is more than AT&T's total value. The same interest in AI also drove a general rally for AI chip stocks, with PHLX chip index rising 4.5% and Super Micro Computer climbing 4%

Intel Reveals New AI Chips

Intel Reveals , New AI Chips. On June 4, Intel announced its new Xeon 6 processor, CNBC reports. . The new AI chips will help to provide better performance and more efficient power for data centers. The announcement follows similar launches from rivals Nvidia and AMD. The announcement follows similar launches from rivals Nvidia and AMD. Intel launched its 5th Gen Intel Xeon processors just six months ago. In April, the company unveiled the Gaudi 3 processor. Customers are looking for high performance, cost-effective gen AI training and inferencing solutions. And they’ve started to turn to alternatives like Gaudi. , Patrick Gelsinger, chief executive officer of Intel Corp., via statement. They want choice. They want open software and hardware solutions and time to market solutions at dramatically lower TCOs [total cost of ownership], Patrick Gelsinger, chief executive officer of Intel Corp., via statement. Intel plans "to continue to grow the AI PC category" with its Lunar Lake chips, which are scheduled to ship in Q3 2024. Intel, which recorded a $7 billion operating loss in 2023, is attempting to catch up to its rivals amid the ongoing AI frenzy. While Intel has been struggling, it differs from Nvidia and AMD because it manufactures chips in addition to designing them. Additionally, Intel received $20 billion in funding from the CHIPS and Science Act which could help the company to advance. Additionally, Intel received $20 billion in funding from the CHIPS and Science Act which could help the company to advance

Nvidia Looks to Accelerate Production With New Packaging Tech

Nvidia Looks to , Accelerate Production , With New Packaging Technology. Yahoo Finance reports that Nvidia Corp has announced plans to use Fan-Out Panel Level Packaging (FOPLP) technology to package its GB200 AI server chips. The change was reportedly made to address production constraints on the currently used Chip on Wafer Substrate (CoWoS) packaging used at the Taiwan Semiconductor Manufacturing Company. The change was reportedly made to address production constraints on the currently used Chip on Wafer Substrate (CoWoS) packaging used at the Taiwan Semiconductor Manufacturing Company. According to industry experts, FOPLP could be a viable alternative to CoWoS amid the increasing demand for AI chips. . Analysts consider Nvidia the premier accelerated compute and generative AI supplier, backed by production plans with Blackwell Chip. . Over the past year, stock in Nvidia has gained over 184%. . On May 29, shares in Nvidia were up 0.89% at $1,149.10 in premarket trading. . Yahoo Finance reports that a growing number of packaging companies are getting ready to offer FOPLP services. . Yole Group has predicted that its market share will increase from 2% in 2022 to 8% by the year 2028. The gains are expected to primarily be driven by higher yields and increasing cost efficiency. Experts point out that while FOPLPs could reduce cost and expand capacity, they have weaker technical specifications compared to the current CoWoS standard