How Nvidia became a $4 trillion company

Here & Now Anytime

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4.1 • 953 Ratings

🗓️ 1 August 2025

⏱️ 20 minutes

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Summary

AI is fueling the stock market, sending the value of tech companies like Nvidia and Microsoft into the stratosphere. This week, Microsoft's market valuation surged past $4 trillion. That's nearly the GDP of India. Roben Farzad, host of the podcast "Full Disclosure," explains Microsoft's role in the competition. And, Nvidia — which makes microchips for AI — recently hit the same valuation milestone of $4 trillion. Chris Miller, author of the book "Chip War: The Fight for the World's Most Critical Technology," explains why Nvidia is gaining so much traction so fast and what it says about the value of chips.

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0:00.0	Support for NPR and the following message come from the Walton Family Foundation,
0:05.1	working to create access to opportunity for people and communities by tackling tough social and environmental problems.
0:12.0	More information is at walton family foundation.org.
0:17.2	WBUR Podcasts, Boston.
0:21.8	You can make money in the age of AI, and this isn't all, the railroad analogy I've heard a thousand times.
0:28.5	We're laying the tracks, where's the ROI, where's the ROI?
0:31.0	Guess what?
0:31.8	This company should just put up massive margins.
0:34.0	They're making money at the beginning of the AI investment curve.
0:37.0	Maybe artificial intelligence hasn't taken over your office yet. They're making money at the beginning of the AI investment curve.
0:43.2	Maybe artificial intelligence hasn't taken over your office yet, but it's definitely starting to change the stock market.
0:59.5	It's Friday, August 1st, and this is here and now anytime from NPR and WBUR.
1:00.5	I'm Chris Bentley.
1:13.3	Today on the show, we still don't know exactly how the artificial intelligence arms race is going to change society. But one thing is clear, AI is making some people very rich. Invidia, the computer chip designer, recently
1:21.0	became the first publicly traded company to be worth more than $4 trillion. But then just a few weeks later, Microsoft joined that $4 trillion club as well.
1:32.5	And META, worth a comparatively modest $2 trillion, is also seeing its stock price surge after
1:40.3	shoveling money at AI.
1:42.5	So what does it all mean?
1:44.4	Today, we'll tackle that question.
1:46.5	In a few minutes, we'll take a closer look at NVIDIA,
1:49.5	one of AI's essential companies.
1:52.0	There are just a couple of firms like NVIDIA and DSMC
	...

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