Nvidia’s market value has surpassed Amazon’s

Nvidia’s market value surpassed Amazon’s on Monday for the first time in over 20 years.

According to Bloomberg, the world’s dominant designer and supplier of AI chips saw its shares rise as much as 2.9% today to hit a market capitalisation of $1.83 trillion.

That put it ahead of Amazon’s $1.80 trillion, making it the fourth most valuable US-listed company behind Alphabet ($1.85 trillion), Apple ($2.9 trillion) and Microsoft ($3.11 trillion).

“Amazon was actually among the winners in the current earnings season as Amazon’s outlook is improving,” said Saxo Bank’s Peter Garnry. “Nvidia is just riding the first investment wave of the current AI boom with massive capital expenditures being deployed in data centers.”

Nvidia, which has added some $600 billion in market value this year alone, will report its quarterly earnings on February 21.

The company launched the GeForce RTX 40 Super Series of GPUs last month. The mid-gen refresh of its PC graphics cards starts at $599.

It was claimed last week that Nintendo‘s unannounced Switch successor will feature a custom Nvidia chip.

VGC reported last summer that development kits for ‘Switch 2’ were in the hands of key partner studios, with a launch expected in late 2024.