Internationalism No. 85, March 2026 Page 14 From the series The telecommunications battle At the end of 2025, Nvidia, the Californian company founded and led by Jensen Huang, and producer of over 80% of the chips powering artificial intelligence (AI) development, was the most valuable company in the world. Its market capitalisation reached $4.532 trillion: 12% more than Apple, the next highest, and, furthermore, ten times Nvidia's level three years earlier, when ChatGPT made its international debut. The AI gold rush has turned into an astonishing windfall for businesses selling the necessary hardware, namely today's shovels and picks . Nvidia's revenue for 2025 is expected to exceed $210 billion; in five years it has grown eightfold. Net profits over the past three years will surpass $180 billion, more than 50% of total revenue. Experts of the ongoing competition explain that three conditions are required to achieve good resul...