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Nvidia outperforms Bitcoin on Google Trends TradingView News

Nvidia outperforms Bitcoin on Google Trends TradingView News


Glassnode principal analyst James Cech noted that tech giant Nvidia has overtaken Bitcoin in terms of search interest.

The chipmaker surpassed Microsoft in market capitalization last week, becoming the world's most valuable company for the first time, U.Today reported.

The Santa Clara, California-based company's stock has risen an astounding 162% thanks to the ongoing artificial intelligence (AI) boom. NVIDIA controls roughly 90% of the GPU chip market, which is why the company is thriving in this AI-crazed era of technology.

A recent report from Bloomberg said Wall Street is having a hard time predicting Nvidia's revenue because it's unclear how many GPUs the company will sell amid growing demand.

Nvidia's massive price rise this year has already made it the most expensive stock in the S&P 500. While that valuation may seem reasonable as demand for GPUs explodes, some analysts worry the company's stock is in an AI-fueled tech bubble.

Many compare NVIDIA's remarkable growth to that of computer giant Cisco. In March 2000, Cisco briefly surpassed Microsoft to become the world's most valuable company. The Internet equipment maker was at the height of its dot-com boom, with a market capitalization of more than $575 billion. By comparison, Cisco's market capitalization is now just $190 billion, less than half of its peak value 24 years ago.

Last week, The Information reported that Nvidia CEO Jensen Huang is worried that Nvidia could be a passing fad like Cisco, and his main concern seems to be a lack of data center space to house the company's AI chips.




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