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Capital Brief

January 24, 2024

Nvidia is riding a lightning bolt. Now its competitors want to bottle some too.


Dan Van Boom

Nvidia had a historic 2023, more than tripling its value off the back of the demand artificial intelligence developers have for its processors. If the opening weeks of 2024 are any indication, this year will be just as sweet.

The 'magnificent seven' member's stock is up 21% in the past month, setting fresh record highs at US$596 at the time of publication. The rally has put Nvidia's market cap of US$1.47 trillion ($2.2 trillion) within next-day-delivery's distance of Amazon's US$1.6 trillion.

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