AI craze puts NVIDIA ahead of Amazon in market cap. The last time Nvidia was worth more than Amazon was in 2002, when they were each worth less than $6 billion.
The company's bet on strong demand for artificial intelligence sent NVIDIA shares soaring, making it the best-performing stock among the so-called "Magnificent Seven," with a 223% rise over the past 12 months. In January, Microsoft overtook Apple, becoming the most valuable company in the world also thanks to its trend to adopt artificial intelligence in its products.