Artificial intelligence investments paid off for several tech giants in 2024. Nvidia led the industry with a near 174% year-to-date gain, fueled by strong demand for its advanced graphics processing unit, Blackwell. Broadcom closely followed, surpassing $1 trillion in market capitalization thanks to its AI chip sales.
Oracle made a significant comeback, jumping nearly 60%, driven by its cloud infrastructure technology and new partnerships with OpenAI and Meta. These results highlight the growing importance of AI in the tech sector.
Source: https://finance.yahoo.com/video/winners-tech-sector-2024-184540844.html