Just two weeks after Meta set the record for the largest single-day increase in market valuation ($197-billion), chipmaker Nvidia shot the lights out with a whopping $277-billion surge. Unlike Meta, which has been unmasked as the greatest enabler of paedophilias in history, Nvidia actually makes a real product in the real world – and one that is actually useful.
Meta is the epitome of surveillance capitalism, exploiting our personal data – and young girls – for money. Shame on anyone who still believes they are reaching their audiences when all your marketing money is doing is propping up a “vast paedophile network,” according to an investigation last year by The Wall Street Journal with researchers from Stanford University and the University of Massachusetts Amherst.
Every day, 100,000 children experience sexual harassment on Instagram and Facebook, according to Meta’s own documents, as revealed in a New Mexico attorney-general lawsuit last year.
“Meta’s Instagram helped connect and promote a network of paedophiles,” said Senator Dick Durbin, the head of a Senate judiciary committee, which grilled Meta CEO Mark Zuckerberg last month, as well as the CEOs of X/Twitter, Snap Discord and TikTok.
Nvidia, meanwhile, actually does something useful for society – and the stock markets are clearly excited about the potential of its processors needed to power artificial intelligence (AI). Nvidia has quietly grown its expertise and market share for making graphical processing units (GPUs), which have been used by the gaming industry for decades. Rendering the complex videos of games requires processors to perform multiple processes at the same time, which turns out to be the same requirement for AI applications.
Never has one industry — AI — owed so much to another — gaming. Parents of gaming-obsessed teenagers can take some solace that their kids’ infatuation with first-person-shooter (FPS) games has helped advance humanity – albeit tangentially.
The Nvidia numbers are extraordinary. The 16.4% increase pushed Nvidia’s valuation to $1.94-trillion, putting it in third place behind tech giants Microsoft and Apple. Its $272-billion increase is about that of the combined value of Goldman Sachs Group and Boeing; while much more than car makers Ford, General Motors and Stellantis put together ($176-billion), according to data from TradingView.
Read More: Nvidia’s secret “TrueHDR” tool uses AI for real-time HDR-gaming conversion
Nvidia’s market cap is – amazingly – bigger than the GDP of all but 11 nations in 2022, including Brazil’s $1.92-trillion and Australia’s $1.69-trillion, according to Investopedia.
“Despite concerns over its high valuation, Nvidia’s unparalleled AI-related intellectual property, rooted in decades of visionary investment, sets it apart in a league of its own,” says Rosenblatt Securities analyst Hans Mosesmann. Indeed it does. Like OpenAI, whose ChatGPT took the world by storm in November 2022, Nvidia is central to the AI industry.
And the good news will keep on coming, says Nvidia’s co-founder and chief executive, Jensen Huang. “Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” he said in a press release.
“We are one year into generative AI,” Huang told the New York Times. “My guess is we are literally into the first year of a 10-year cycle of spreading this technology into every single industry.”
- This column first appeared in the Financial Mail
