This tech company has had a better year than Jensen Huang's Nvidia
Nvidia gained about 80% over the 10-week rally as investors continually bid up the company amid sky-high demand for chips used in artificial intelligence.
Nvidia has more than quadrupled the value of its shares in the past year but one of the chipmaker’s customers is performing even better as server-maker Super Micro Computer has become a major supplier for companies and governments who are eager to ride the AI wave as sales of its servers filled with Nvidia’s AI chips are projected to double the company’s revenue this year, Wall Street Journal reported.
In the past one year, Super Micro Computer’s shares have increased more than 12-fold and it is set to become part of the S&P 500 index of large US-listed companies on Monday. The company was founded in Silicon Valley in 1993—the same year Jensen Huang co-founded Nvidia.
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This comes as Nvidia gained about 80% over the 10-week rally as investors continually bid up the company amid sky-high demand for chips used in artificial intelligence. Nvidia is the top gainer among Nasdaq 100 Index components this year, just as it was in 2023. Over the last week, its stock rose 0.4%, making for the chipmaker’s 10th straight positive week, the longest such winning streak in its history. The rally resulted in a market capitalization of about $2.2 trillion for Nvidia, making it the third-largest publicly traded stock. Currently, it is just behind Microsoft Corp and Apple Inc.
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Earlier, Jensen Huang said that artificial general intelligence could arrive in as little as five years which depends on how the goal is defined. If the definition is the ability to pass human tests, he said that artificial general intelligence (AGI) will arrive soon.
"If I gave an AI ... every single test that you can possibly imagine, you make that list of tests and put it in front of the computer science industry, and I'm guessing in five years time, we'll do well on every single one," he said, adding, "Therefore, it's hard to achieve as an engineer" because engineers need defined goals.
