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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Has this kind of ridiculous overvaluation happened this frequently in the past, or is this a modern phenomenon?