Nvidia, a leading GPU producer, reported a staggering 265% YoY increase in revenue, reaching $22.1 billion in Q4. The surge is attributed to the global demand for AI equipment and accelerated computing. With a market cap of $1.67 trillion, Nvidia has now overtaken Tesla as Wall Street's most-traded stock.

Tesla plans to spend over $500 million on AI hardware from Nvidia in 2024 alone, while also purchasing from its competitor, AMD. Nvidia's RTX series remains a popular choice for generative AI enthusiasts, gamers, and creators. The company's dominance in the AI hardware industry is fueling what some call an "AI war."