Nvidia’s ascent to most valuable company has echoes of dot-com boom
Live MintNvidia has become the U.S.’s most valuable listed company because of the demand for its artificial-intelligence chips, leading a tech boom that brings back memories of one from earlier this century. The last time a big provider of computing infrastructure was the most valuable U.S. company was in March 2000, when networking-equipment company Cisco took that spot at the height of the dot-com boom. Nvidia “will be the most important company to our civilization over the next decade as the world becomes more AI-driven," CFRA Research analyst Angelo Zino said recently. Capital Economics chief economist Neil Shearing on Monday said the AI bubble would likely help keep U.S. stocks rising for the next year and a half, although it would eventually burst, with the U.S. market “destined for a period of significant underperformance" to follow.