Nvidia’s 2024 market capitalization surge was closely associated with demand for its H100 artificial-intelligence processors.
The H100 is a data-center graphics processing unit, or GPU, designed for demanding computing tasks such as training and running large AI models. Nvidia’s CUDA software platform also helped make its hardware especially important to developers and cloud-computing companies.
Nvidia was founded in 1993 and originally became famous for graphics chips used in personal computers and video games. Its GPUs later became valuable for parallel computation, which is well suited to many machine-learning workloads.
The company’s market value rose dramatically as technology businesses invested in AI infrastructure. Market capitalization reflects investors’ expectations as well as present results, so it can move sharply when expectations about future growth change.