The future is here whether you want it or not as AI briefly makes Nvidia the 4th most valuable corporation on Earth with a $1.83 trillion market cap

TAIPEI, TAIWAN - 2023/06/01: Jensen Huang, President of NVIDIA holding the Grace hopper superchip CPU used for generative AI at supermicro keynote presentation during the COMPUTEX 2023. The COMPUTEX 2023 runs from 30 May to 02 June 2023 and gathers over 1,000 exhibitors from 26 different countries with 3000 booths to display their latest products and to sign orders with foreign buyers.

If AI's good for anything, it's for allowing tech companies to summit new, Mansa Musa-like heights in their various market caps. Last month, Microsoft rode the AI boom to a $2.9 trillion valuation, pipping Apple to the post as the most valuable corporation on Earth. And now Nvidia's getting in on the fun, too.

Bloomberg reports that Nvidia briefly overtook Amazon yesterday, hitting a market cap of $1.83 trillion in a rally that saw it briefly become the fourth most valuable company in the world behind Alphabet ($1.84 trillion), Apple ($2.89 trillion), and Microsoft (currently $3.09 trillion).