B2 Reading: Nvidia, the Company Powering the AI Boom
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Few companies have gone through a as dramatic as Nvidia's. Founded in 1993 by three engineers who made their first plans in a roadside diner, it spent most of its first two decades as a fairly small business making graphics chips for video gamers. Today it sits at the centre of the artificial intelligence revolution and is the most valuable company on the planet.
The came when researchers realised that graphics processing units (GPUs), designed to calculate millions of pixels at once, were also ideal for training AI models. Nvidia's chief executive, Jensen Huang, made a bet: he invested heavily in software that allowed scientists to use the company's chips for general computing, long before there was any obvious . When the AI boom took off in the early 2020s, Nvidia was perfectly placed to benefit, while its competitors were far behind.
The financial results have been extraordinary. In 2015, the company's market value was below $20 billion. In October 2025, it became the first company ever to be valued at $5 trillion, and by early October 2026 it was worth around $5.8 trillion, nearly a trillion dollars more than Apple. Most of its now comes from selling chips to the giant data centres run by companies such as Microsoft, Amazon and Google.
However, this success brings . Nvidia on a small number of very large customers, and several of them are now designing their own chips to reduce their on it. The company has also been affected by tensions between the United States and China, as export have limited which chips it can sell to Chinese customers. And some investors warn that the excitement around AI may be a : if companies decide they are spending too much on AI, demand for Nvidia's chips could fall sharply.
Huang, who famously worked as a dishwasher at a Denny's restaurant as a teenager, is still in more than three decades after co-founding the company. Known for his black leather jacket and his intense work ethic, he has become one of the most figures in the technology industry.
Whether Nvidia can stay on top is one of the biggest questions in business today. For now, though, it is hard to imagine the AI industry without it.
The came when researchers realised that graphics processing units (GPUs), designed to calculate millions of pixels at once, were also ideal for training AI models. Nvidia's chief executive, Jensen Huang, made a bet: he invested heavily in software that allowed scientists to use the company's chips for general computing, long before there was any obvious . When the AI boom took off in the early 2020s, Nvidia was perfectly placed to benefit, while its competitors were far behind.
The financial results have been extraordinary. In 2015, the company's market value was below $20 billion. In October 2025, it became the first company ever to be valued at $5 trillion, and by early October 2026 it was worth around $5.8 trillion, nearly a trillion dollars more than Apple. Most of its now comes from selling chips to the giant data centres run by companies such as Microsoft, Amazon and Google.
However, this success brings . Nvidia on a small number of very large customers, and several of them are now designing their own chips to reduce their on it. The company has also been affected by tensions between the United States and China, as export have limited which chips it can sell to Chinese customers. And some investors warn that the excitement around AI may be a : if companies decide they are spending too much on AI, demand for Nvidia's chips could fall sharply.
Huang, who famously worked as a dishwasher at a Denny's restaurant as a teenager, is still in more than three decades after co-founding the company. Known for his black leather jacket and his intense work ethic, he has become one of the most figures in the technology industry.
Whether Nvidia can stay on top is one of the biggest questions in business today. For now, though, it is hard to imagine the AI industry without it.