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Core News Facts
The stock market’s surge, particularly in the AI hardware sector, has been significantly driven by companies like Nvidia and Broadcom. Since its 2022 low, Nvidia has seen an increase of approximately 1,600%, contributing to its current market cap of $4.6 trillion. This makes it the world’s largest publicly traded company.
Despite the current high valuations in the sector, with Nvidia’s market cap previously exceeding $5 trillion, the AI market is projected to grow at a compound annual growth rate (CAGR) of 32% through 2033. Additional key players like Taiwan Semiconductor and Broadcom have market caps of $1.5 trillion and $1.6 trillion respectively, suggesting that significant growth in the AI hardware sector may continue in the future.
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