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By the end of 2022, there were only four trillion-dollar companies —Apple, Microsoft, Saudi Aramco, and Google—with Amazon just scraping against the threshold. At that time, Nvidia (NVDA) was the leader of the discrete GPU market and a massive player in the tech industry—yet was nowhere near the $1T mark.
While its niche wasn’t exactly a money pit, and prices took a hit in 2022, NVDA was growing at a slower pace. The company also saw notable bumps in its data center segment thanks to increased demand from neural networks and artificial intelligence training. The segment surpassed its GPU business right around that time.