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Nvidia surpassed Alphabet in market capitalization on Wednesday, only a day after it overtook Amazon. Bloomberg<\/em> is reporting that the chip maker\u2019s stock is now worth $1.83 trillion<\/a>, beating the Google owner\u2019s $1.82 market cap by a hair. This makes Nvidia the world\u2019s fourth most valuable company in the wake of the AI boom, after Microsoft ($3.04T), Apple ($2.84T) and Saudi Aramco. The company is currently making the H100 chip<\/a>, which powers the majority of LLMs in use today, including OpenAI\u2019s ChatGPT and the majority of AI projects from Microsoft, Meta, and Amazon. <\/p>\n<\/div>\n The world\u2019s largest tech companies are involved in an AI chip arms race<\/a>, with each of them hoping to create their own GPU chip to topple Nvidia\u2019s virtual monopoly. Ironically, as Bloomberg <\/em>notes, Nvidia\u2019s top sales of AI chips come from those same companies. The Santa Clara-based firm is close to releasing a superior AI chip<\/a>, the H200, which has more memory capacity and bandwidth than its predecessor. Earlier this month, Reuters<\/em> reported that Nvidia has invested $30 billion into a unit devoted to helping other companies make their own custom AI chips<\/a>. Meaning, even if companies opt to build their own AI chips, Nvidia could get a piece of the action. <\/p>\n<\/div>\n Meanwhile, direct competitors like Intel and AMD are working on their own powerful chips<\/a> that could rival the H200. <\/p>\n<\/div>\n