Chipmaker Nvidia became the most valuable company in the world on Monday, taking the spot from Apple. Nvidia’s value reached $3.38 trillion, while Apple was at $3.35 trillion. This happened just after Nvidia was added to the Dow Jones Industrial Average, which is a big list of important U.S. companies.
By Monday night, Apple regained its top position with a $3.38 trillion value, and Nvidia dropped slightly to $3.34 trillion. Nvidia is now a leader in powerful computer chips. These chips are important for artificial intelligence (AI). The company started in 1993 when co-founder Jensen Huang and his friends decided to begin a business while eating at a Denny’s restaurant in California.
Nvidia first made a low-cost chip called the NV1, which did not do well. But later, it created a better chip called the RIVA 128 that became popular. Now, Nvidia makes chips for video games, laptops, cars, and AI. Since the launch of the ChatGPT chatbot in 2022, Nvidia’s shares have gone up a lot. Huang believes hard work and dedication led to the company’s success.
Vocabulary List:
- Valuable /ˈvæl.jə.bəl/ (adjective): Having great worth or importance.
- Regained /rɪˈɡeɪnd/ (verb): To get back or recover something lost.
- Industrial /ɪnˈdʌs.tri.əl/ (adjective): Relating to industry or the production of goods.
- Important /ɪmˈpɔːr.tənt/ (adjective): Of great significance or value.
- Dedication /ˌded.ɪˈkeɪ.ʃən/ (noun): The quality of being committed to a task or purpose.
- Artificial /ˌɑːr.tɪˈfɪʃ.əl/ (adjective): Made or produced by human beings rather than occurring naturally.
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