Nvidia Rises to Become the Third Largest US Company by Market Cap, Surpassing Alphabet

Published February 14, 2024

In a significant shift in the tech industry landscape, Nvidia has outpaced Alphabet Inc., the parent company of Google, in terms of market capitalization, claiming the title of the third-largest company in the United States. This milestone comes as Nvidia, a leading force in the artificial intelligence (AI) revolution, prepares to announce its fourth-quarter results.

Alphabet Inc.'s Diverse Portfolio

Alphabet Inc., through its various business segments, has had a longstanding presence in the field of technology. It operates the world's premier search engine, Google, and houses other popular platforms such as YouTube and Gmail. In addition, Alphabet has delved into smart home technology with Nest Labs, initiated ventures in biotech with Calico, and funded innovation with Google Ventures and Google Capital. The firm is also carving out space in the infrastructure realm with Google Fiber's high-speed internet network.

Momentum in AI Propelling Nvidia Forward

Nvidia's ascendancy reflects the burgeoning importance of AI in the technology sector. As a company at the forefront of creating AI-driven hardware and software, Nvidia's market value surge underscores the increasing investor confidence in its potential for long-term growth, especially as demands for AI applications continue to skyrocket across industries.

Nvidia, Alphabet, MarketCap