Nvidia: chipmaker's strategic AI moves result in a tech position of power

Nvidia saw its valuation soar to $1tn on Tuesday, making it the fifth most valuable American company and one of the first major corporate beneficiaries of the hype around AI. The chipmaker has been a major and in some cases dominant player in several industries for years. But no development has raised its profile – and its potential windfall – as much as the current excitement around generative AI. Nvidia has been around for 30 years. The company got its start in 1993 building graphics processing units (GPUs) for video games.