The chipmaker’s market capitalisation has grown by more than four times the market value of BHP – in just six weeks.
Move aside Apple. If you haven’t heard of computer chipmaker and market rock star Nvidia, you haven’t been paying attention.
But despite its size and meteoric rise in the market, Nvidia is hardly a household name. Most of us still don’t even know how to pronounce it. For those that want to sound informed at dinner parties, “in vidia” is its phonetic spelling – and it’s derived from the latin word for “envy”. How appropriate.
Demand for Nvidia’s top-of-the-line processors is far outstripping supply as Microsoft, Meta Platforms and Google parent Alphabet race to build out their AI computing capabilities and dominate the emerging technology. The company more than doubled sales to US$61billion in the year that ended in January 2024. That number is poised to nearly double again to over US$110 billion by January 2025. That is an 11-fold increase in sales compared to the numbers in 2020.Such breathtaking speed has naturally drawn the ire of sceptics who suggest caution about Nvidia’s ability to continue growing its business and its share price at warp speed.
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