From its beginnings as a provider of high-performance graphics processing power for video games, Nvidia Corp. has become one of the most valuable companies in the world based on its central role in ushering in an artificial-intelligence era across industries.
The company, which works with several global automakers such as BYD, Mercedes-Benz and BMW, saw its stock surge 24 percent on Thursday, adding $184 billion to its value after a positive revenue outlook based on artificial-intelligence advances.
That’s one of the largest one-day gains in value for a company in history, and places Nvidia’s market capitalization at nearly $939 billion.
That surge continued Friday with shares rising another 2.5 percent to close at $389.46 — pushing the market capitalization past $963 billion.
The increase extends Nvidia far ahead of computing competitors like Qualcomm, worth approximately $122 billion, and Intel, valued at about $119 billion.
Although Nvidia reaches multiple industries and direct comparisons are difficult in the automotive realm, Tesla Inc. is valued at $613 billion.