Nvidia passes Alphabet in market cap and is now the third most valuable U.S. company

L4sBot@lemmy.worldmod to Technology@lemmy.world – 113 points – Nvidia passes Alphabet in market cap and is now the third most valuable U.S. company
cnbc.com

Nvidia passes Alphabet in market cap and is now the third most valuable U.S. company::The symbolic milestone is more confirmation that Nvidia has become a Wall Street darling on the back of elevated AI chips sales

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Also how absolutely shit Google has become.

This is not about Google, which have a market cap that corresponds to their revenue.

This is about Nvidia that has a crazy inflated market cap.

The number 1 offer google was making to their user base was so far ahead of its competitors that everyone naturally gravitated to it.

They then spent all their efforts milking it for all its worth that the offering was methodically abused by bad actors also only interested in milking the user base (seo optimized, nonsense generated articles, artificial usage stats).

Now the offering is so bad quality (diluted with rubbish) that they will find it harder and harder to compete.

I can't say I'm not disappointed, I also cannot say I'm surprised.

Also the drive to walled gardens like discord and putting actual content in a YouTube video to be able to monetize it has damaged the web badly.

The profit-motive of capitalism (monetization and surveillance capitalism) are what's destroyed the web. It went from an "information superhighway" lead by techies, scientists, and individuals sharing knowledge to a corporate lead value extraction machine.

Obviously servers cost money, and there are many valuable services, but the infinite growth model guarantees enshittification and paying customers getting assimilated by the borg eventually (cable and now streaming ads, despite profitability).

But also the techies wound up with a serious faction who started asking why they aren’t allowed to be kings