What does Nvidia's success mean for Canadian firms and the broader industry?
BNN Bloomberg
Following Nvidia Corp. reaching a new market capitalization threshold, experts say some Canadian companies and those with large amounts of data are poised to benefit from AI enthusiasm.
Nvidia hit a US$1 trillion market capitalization Tuesday, becoming the first chipmaker to do so. The company produces specialized chips capable of powering AI-related products.
“I think it's shocking that in after-hours [trading] and less than an hour [after the market opened], Nvidia basically from a market cap perspective grew an entire AMD Inc. plus an Intel Corp….on the back of [the] AI and machine learning outlook for the market,” Keith Witek, the chief operating officer at Tenstorrent Inc., said in an interview with BNNBloomberg.ca Tuesday.
Witek said he thinks the market reaction speaks to a broader enthusiasm for the potential of AI in the minds of investors
