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In the third quarter of 2023, of the leading integrated circuit design companies worldwide, Nvidia's revenue amounted to about **** billion U.S. dollars, whilst Qualcomm ranked second with revenue of *** billion U.S. dollars. Benefitting from the global demand for its technologies, Nvidia’s solutions are being deployed for accelerated computing and generative AI applications.

Among the tech giants

In June 2024, Nvidia briefly went into the number one spot among the leading tech companies in terms of market capitalization, jumping ahead of Microsoft and Apple. Nvidia’s rise can be attributed to its dominance in supplying the world with AI chips, advanced semiconductors that have become one of the hottest commodities in tech and global economy.

AI the growth enabler

For Nvidia and other fabless companies like AMD and Qualcomm, the AI boom has meant that providing the necessary technologies to support AI has become key. In June 2024, AMD announced a range of new AI chips, including the Ryzen AI 300 series for next-generation AI laptops. Similarly, Qualcomm is also keen to be a prominent player in the growing AI PC market, with its Snapdragon processors found in Windows-based Copilot+ PCs.