AI frenzy puts Nvidia ahead of Amazon in market value

Nvidia briefly surpassed Amazon.com Inc in market capitalization on Monday, as the euphoria around artificial intelligence catapulted the chipmaker to the fourth most valuable U.S. company.

At a record high of $734.96, Nvidia was worth $1.82 trillion in market value, compared to $1.81 trillion for retail giant Amazon.com and a few billions away from Google-owner Alphabet’s $1.87 trillion, according to LSEG data.