00:00 It's Benzinga and here's what's on the block.
00:02 NVIDIA's market cap briefly surpassed Amazon's on Monday,
00:06 making it the fourth most valuable U.S. company right before NVIDIA did close
00:10 below Amazon's market cap. This is the first time since 2002 that NVIDIA's market cap has
00:16 been greater than Amazon's for any period of time. NVIDIA's stock has been rising nearly
00:21 250% in the last year due to the strong demand for its graphic processing units
00:26 used in artificial intelligence applications. Analysts are more optimistic about NVIDIA's
00:31 growth prospects in 2024 compared to concerns earlier this year about a potential slowdown.
00:37 NVIDIA is gaining recognition for basically anything related to AI, the enterprise software,
00:43 and networking, which are contributing to the company's rising valuations.
00:46 For all things money, visit Benzinga.com.
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