Nvidia achieved a remarkable milestone as its market value surged past that of fellow tech giants Amazon and Alphabet. This unprecedented achievement comes on the heels of Nvidia's stock skyrocketing by more than fourfold over the last 15 months, driven by investors' confidence in its dominant position in artificial intelligence (AI). With Nvidia's shares climbing nearly 3% to a record high above $740, its market capitalization reached $1.83 trillion, narrowly surpassing Alphabet's $1.82 trillion and Amazon's $1.8 trillion.

Just a year and a half ago, Nvidia's market cap stood below $300 billion, significantly trailing behind Amazon and Alphabet's valuations above $1 trillion. Now, Nvidia stands as the world's fourth most valuable public company, trailing only Microsoft, Apple, and Saudi Aramco. As the leading producer of semiconductor chip technology fueling generative AI, Nvidia has garnered investor admiration not only for its potential to capitalize on the burgeoning AI landscape but also for its stellar financial performance. Despite Nvidia's meteoric rise, it remains a favored choice among investors, earning top recommendations from analysts at Goldman Sachs and Bank of America. Both firms have set an $800 price target for Nvidia, suggesting further upside potential for the stock.