2026-09-07
8 分钟The Economist.
Hello and welcome to Editor's Picks.
Ethan Wu here.
I'm one of the hosts of Money Talks, our business and finance podcast.
You're about to hear an article from the latest edition of The Economist.
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Nvidia was named in 1993 after the Latin word for envy.
Sure enough, the American colossus inspires plenty of it.
Insatiable global demand for its graphics processing units or GPUs, the chips that power artificial intelligence,
has made NVIDIA the world's most valuable company, worth $5.4 trillion.
Next year, it may also become the most profitable, generating $370 billion in net income.
By 2029, its sales could hit $1 trillion.
Jensen Huang, NVIDIA's Moss, is truly the magician at the heart of the AI boom.
His firm's share price is 14 times what it was on ChatGPT's release in late 2022. The 10 biggest
public companies championing AI make up 40% of the value of the S&P 500 index.
Nvidia alone accounts for 8%, and unlike, say, Apple or Tesla,
which make smartphones and cars, it is almost solely a bet on AI.
The company has produced about 15 cents of every dollar the American stock market has returned
since 2023, returns that have kept consumers spending despite rising interest rates, tariffs, and a war with Iran.
Yet many also see Mr. Huang as a magician in a more worrying sense,