A 1990s graphics-chip maker worth more than $100 billion? It shouldn’t make sense. But the company, based in Santa Clara, Calif., has defied the Darwinian odds in the Valley by applying its specialty in making high-capacity semiconductors, which it once produced solely to enable the whims of computer gaming geeks, to fast-growing applications such as artificial intelligence programs and cloud computing. With fast-growing Fortune 500 clients—including Amazon, Microsoft, and Tesla—on the books for still-nascent areas like autonomous vehicles, Nvidia is positioned for continued strength well into the A.I. revolution to come.
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