this post was submitted on 15 Feb 2024
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Nvidia passes Alphabet in market cap and is now the third most valuable U.S. company (www.cnbc.com)
submitted 9 months ago by L4s to c/technology
17 comments fedilink hide all child comments
 

Nvidia passes Alphabet in market cap and is now the third most valuable U.S. company::The symbolic milestone is more confirmation that Nvidia has become a Wall Street darling on the back of elevated AI chips sales

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[–] [email protected] 73 points 9 months ago* (last edited 9 months ago)

Nvidia’s market cap is 67 times its annual revenue (which was flat year over year) πŸ‘πŸ˜‚πŸ€‘

Keep on pumping it SoftBank

Take it to $2 trillion and beyond!!! 🀑(lol)

[–] Potatisen 50 points 9 months ago (4 children)

Also how absolutely shit Google has become.

[–] [email protected] 31 points 9 months ago

This is not about Google, which have a market cap that corresponds to their revenue.

This is about Nvidia that has a crazy inflated market cap.

[–] Badeendje 27 points 9 months ago (1 children)

The number 1 offer google was making to their user base was so far ahead of its competitors that everyone naturally gravitated to it.

They then spent all their efforts milking it for all its worth that the offering was methodically abused by bad actors also only interested in milking the user base (seo optimized, nonsense generated articles, artificial usage stats).

Now the offering is so bad quality (diluted with rubbish) that they will find it harder and harder to compete.

I can't say I'm not disappointed, I also cannot say I'm surprised.

Also the drive to walled gardens like discord and putting actual content in a YouTube video to be able to monetize it has damaged the web badly.

[–] WhatAmLemmy 24 points 9 months ago (2 children)

The profit-motive of capitalism (monetization and surveillance capitalism) are what's destroyed the web. It went from an "information superhighway" lead by techies, scientists, and individuals sharing knowledge to a corporate lead value extraction machine.

Obviously servers cost money, and there are many valuable services, but the infinite growth model guarantees enshittification and paying customers getting assimilated by the borg eventually (cable and now streaming ads, despite profitability).

[–] Badeendje 6 points 9 months ago

The factory must grow!

[–] captainlezbian 6 points 9 months ago

But also the techies wound up with a serious faction who started asking why they aren’t allowed to be kings

[–] Uglyhead 2 points 9 months ago (1 children)

They are the MS of the 2000’s; maybe worse

[–] [email protected] 12 points 9 months ago (1 children)

Come on, Microsoft was obviously worse. Steve Ballmer was atrocious.

[–] Uglyhead 2 points 9 months ago

But,…developers

[–] lunar17 39 points 9 months ago (1 children)

Has this kind of ridiculous overvaluation happened this frequently in the past, or is this a modern phenomenon?

[–] [email protected] 36 points 9 months ago (1 children)

Google "the Great Depression"

[–] deus 14 points 9 months ago

Holy hell

[–] psycho_driver 16 points 9 months ago

Ahh, brings back memories of me trying to get my parents to buy into their $10 IPO.

[–] Uglyhead 5 points 9 months ago

Alpha Bet

good - Fuck google.