Nvidia's market cap nears $3 trillion, strong AI demand

Nvidia's market cap is nearly $3 trillion, making it one of the most valuable companies globally. It has increased its share of the "Magnificent Seven" stocks from 0.8% to 18.7%, driven by demand for AI components. The company’s GPUs are essential for AI, cloud computing, and gaming. Nvidia's competitive edge comes from controlling both hardware and software, similar to Apple's ecosystem strategy, which enhances customer loyalty. Despite a 15% drop in share value this year, analysts see potential for growth. AI revenue is projected to rise significantly, positioning Nvidia well for future demand in the industry.