Nvidia’s Close Call Was Too Close

Being on top isn’t always what it’s cracked up to be.

Nvidia helped pioneer the use of graphics processors once used mainly for videogaming into powerful chips that now enable artificial intelligence capabilities in data centers. It remade its own business in the process; annual revenue has grown more than five fold since before the data center business began to take off in 2016. Nvidia also became the most valuable semiconductor company in the world, with a market capitalization higher than at least five other chip companies that generate more in annual revenue.