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Nvidia logo in Taipei, Taiwan.

Reuters

Hard Numbers: Nvidia soars, Salesforce’s UK investment, step up for your eye exam, More millionaires (more problems?), Apple’s rebound

3 trillion: Nvidia stock briefly surpassed $3 trillion in market capitalization this week ahead of a 10-for-1 stock split that’ll make their share price much cheaper. The chipmaker, which is the third most valuable company in the S&P 500 behind Microsoft and Apple, has become a major beneficiary of the AI boom because of its powerful GPU chips. Stock splits don’t affect the value of a company’s stock, but make the share price more palatable for retail investors.
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AMD chairman and CEO Lisa Su delivers the first AI keynote speech in Computex in Taipei on June 3, 2024.

(Jameson Wu/EYEPRESS)

AMD’s big plans

AMD has big plans to challenge Nvidia’s dominance in the AI chip market. At a trade show in Taipei on June 3, AMD unveiled its MI325X accelerator chip, which will be available by the fourth quarter of the year. It also stated plans to launch two additional chips, one in 2025 and one in 2026.

Nvidia dominates the chip market with about 70% market share, but AMD along with Intel and other chipmakers, want to make a dent in their rival’s sales. Meanwhile, reports suggest that Meta and Google are building their own chips while OpenAI chief Sam Altman is trying to raise money for a chip venture of his own.

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