NVIDIA briefly became the most valuable publicly traded company in the world on Thursday before being surpassed by Microsoft. However, the race to a $4 trillion market capitalization is now gaining attention on Wall Street. NVDA stock has shown impressive growth in a short amount of time, with analysts predicting that it has a good chance of reaching this milestone first. As a leader in graphics processors supporting advanced AI protocols, Nvidia is seen as a key player in the technology sector.
While there are concerns about potential disruptions to near-term sales cycles at tech companies, there is also optimism about a “massive” wave of spending that could drive an “industrial revolution” in the tech ecosystem. The competition for the $4 trillion market cap in technology is expected to be between Nvidia, Apple, and Microsoft, with Nvidia having the edge due to its dominance in AI applications.
However, not everyone is convinced of the rapid growth in AI technology. Some researchers have called for a pause in the development of large-scale AI systems due to concerns about uncontrollable power. Nvidia has surpassed its earnings estimates over the past quarters, but the positive surprises have decreased. Overall, the future of AI and its impact on the technology sector remains a topic of debate among analysts and researchers.
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https://investorplace.com/2024/06/nvda-stock-predictions-how-long-will-it-take-for-nvidia-to-cross-4-trillion/
