Nvidia Becomes World's Third Largest Company This positions Nvidia only third behind tech giants such as Microsoft and Apple

Tech giant Nvidia has surpassed Saudi Aramco to become the world's third largest company by market capitalisation.

This positions Nvidia only third behind tech giants such as Microsoft and Apple. This indicates investment attraction in the technology industry, particularly in the areas of artificial intelligence (AI) and chip manufacturing. Nvidia's market capitalization is now $2.053 trillion, and Saudi Aramco has $2.046 trillion. The process of building and production of computer chips, is the driving force of the budding AI technology.

Nvidia Chief Executive Jensen Huang on March 1 said that artificial general intelligence could - by some definitions - arrive in as little as five years, while speaking at the 2024 Stanford Institute for Economic Policy Research Summit in Palo Alto, California.

Huang, who heads the world's leading maker of artificial intelligence chips used to create systems like OpenAI's ChatGPT, was responding to a question at the Summit about how long it would take to achieve one of Silicon Valley's long-held goals of creating computers that can think like humans. Huang said that the answer largely depends on how the goal is defined. If the definition is the ability to pass human tests, Huang said, artificial general intelligence (AGI) will arrive soon.

"If I gave an AI ... every single test that you can possibly imagine, you make that list of tests and put it in front of the computer science industry, and I'm guessing in five years time, we'll do well on every single one," said Huang.

"We're going to need more fabs. However, remember that we're also improving the algorithms and the processing of (AI) tremendously over time," Huang said. "It's not as if the efficiency of computing is what it is today, and therefore the demand is this much. I'm improving computing by a million times over 10 years," he added.