{"id":13090,"date":"2024-02-22T13:00:20","date_gmt":"2024-02-22T13:00:20","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=13090"},"modified":"2024-02-22T11:13:15","modified_gmt":"2024-02-22T11:13:15","slug":"nvidia-became-the-most-traded-stock","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/nvidia-became-the-most-traded-stock\/","title":{"rendered":"Nvidia Became the Most Traded Stock!"},"content":{"rendered":"

In the last 30 trading sessions, Nvidia<\/strong> outpaced Elon Musk<\/a>‘s<\/strong> Tesla<\/strong> as the most traded stock on Wall Street<\/strong> in the United States.<\/p>\n

Largely producing the graphics processing unit (GPU<\/strong>), Nvidia<\/strong> announced its revenue to be $22.1 billion<\/strong> with a 265%<\/strong> annual increase in the backdrop of surging global demand for artificial intelligence (AI<\/strong>) equipment.<\/p>\n

According to the recent financial results, The company<\/strong><\/a> had a revenue of $22.1 billion in Q4<\/strong>, which increased by 22%<\/strong> compared to the previous quarter and 265% compared to the previous year. The company’s founder and CEO<\/strong> Jensen Huang<\/strong> attributed the increase in sales to the boost in accelerated computing and creative AI<\/strong> demand. The chipset manufacturer currently has a market value of $1.67 trillion<\/strong>.<\/p>\n

\"Nvidia\"
Source: investor.nvidia.com<\/figcaption><\/figure>\n

The result emerged along with Nvidia<\/strong> becoming the most traded stock on Wall Street<\/strong> by beating Elon Musk’s Tesla<\/strong>. In the last 30<\/strong> trading sessions, about $30 billion<\/strong> worth of Nvidia<\/strong> stock was traded, during this same period it was reported by Reuters<\/strong> that the figure for Tesla was approximately $22 billion<\/strong>.<\/p>\n

\"Nvidia\"<\/p>\n

On January 27<\/strong>, Musk confirmed Tesla’s plan to spend over $500 million<\/strong> to procure AI hardware from Nvidia<\/strong> just for 2024<\/strong>. He said:<\/p>\n

\u201cThe minimum amount of investment needed to be competitive in artificial intelligence is currently at least a few billion dollars.\u201d<\/p><\/blockquote>\n

Tesla<\/strong> also has plans to purchase artificial intelligence-related hardware from AMD<\/strong>, the biggest rival of Nvidia<\/strong> as a GPU<\/strong> manufacturer.<\/p>\n

The RTX<\/strong> series, first introduced in September 2018<\/strong>, is seen as a go-to platform for generative AI enthusiasts, gamers, and creators. In the third quarter of 2023<\/strong>, Nvidia<\/strong> obtained revenues of $18.1 billion<\/strong> supported by a robust market value of $1.2 trillion<\/strong>.<\/p>\n

In December 2023, Yann LeCun<\/strong>, chief AI scientist at Facebook’s<\/strong> AI Research in Meta<\/strong>, admitted to Nvidia’s<\/strong> domination in the current AI hardware industry. He also indicated that the chip manufacturer was fueling the AI war.<\/p>\n

\u201cYes, I know Jensen. There’s an AI war going on and he’s supplying the weapons.\u201d<\/p><\/blockquote>\n

Nevertheless, LeCun<\/strong> criticized the overuse of text-based models for training generative AI systems. He said, “Text, as an information source, is very weak,”<\/strong> and added: “Train a system with 20,000 years’ worth of reading materials, they still wouldn’t comprehend that A equals B.”<\/strong><\/p>\n

\n

In the comment section, you can freely share your comments and\u00a0 opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In the last 30 trading sessions, Nvidia outpaced Elon Musk‘s Tesla as the most traded stock on Wall Street in the United States. Largely producing the graphics processing unit (GPU), Nvidia announced its revenue to be $22.1 billion with a 265% annual increase in the backdrop of surging global demand for artificial intelligence (AI) equipment.<\/p>\n","protected":false},"author":1,"featured_media":13089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4549,4550,467,4432,2816],"class_list":["post-13090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-amd","tag-ecun","tag-elon-musk","tag-nvidia","tag-tesla"],"yoast_head":"\nNvidia Became the Most Traded Stock! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"In the last 30 trading sessions, Nvidia outpaced Elon Musk's Tesla as the most traded stock on Wall Street in the United States.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/nvidia-became-the-most-traded-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nvidia Became the Most Traded Stock! 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