Nvidia Surpasses Apple and Microsoft to Become World’s Most Valuable Company


Nvidia Corp. has cemented its position as the world’s most valuable company, surpassing tech giants like Apple Inc. and Microsoft Corp. with a market capitalization now exceeding $3.3 trillion. This milestone underscores Nvidia’s dominance in the semiconductor sector, particularly in artificial intelligence (AI), as its stock surged 3.5% to close at $135.58 per share on Tuesday.

Thank you for reading this post, don't forget to subscribe!

The rise marks a significant achievement for Nvidia, which has been at the forefront of AI technology with its highly sought-after chips powering data centers and AI applications. Last week, Nvidia surpassed Apple in market value for the first time since 2002, following a month-long battle for the top spot among tech stocks.

Investors have increasingly focused on Nvidia’s pivotal role in AI, viewing it as the primary beneficiary of the technology’s expansion. The company’s revenue soared by over 125% last year, driven by robust demand for its H100 accelerators crucial for AI computing tasks.

According to Daniel Ives of Wedbush Securities, the race to a $4 trillion market cap in tech will intensify between Nvidia, Apple, and Microsoft over the coming year. Microsoft, known for its investments in AI through partnerships like OpenAI, and Apple, which recently unveiled its AI strategy, are also seen as key players in the AI sector.

Nvidia’s meteoric rise has not only bolstered its market position but also made its co-founder and CEO, Jensen Huang, one of the world’s wealthiest individuals, with his net worth soaring to $119 billion. Analysts and investors highlight Nvidia’s diversified offerings beyond chips, including proprietary software and a robust development ecosystem, as key factors driving its market leadership.

With Nvidia’s GPU chips increasingly seen as essential in the tech sector amid the ongoing Fourth Industrial Revolution, analysts like Daniel Ives emphasize that Nvidia has positioned itself akin to “the new gold or oil” in technology.

–With contributions from Bre Bradham and Kristine Owram

Share post:



More like this

FG to Construct 6-Lane Super Highway Connecting 5 States, FCT – Umahi

July 18, 2024. Azonuchechi Chukwu. Minister of Works, Senator David Umahi,...

Insurers’ assets hit N3.3trn as premium income rises by 51%

July 18, 2024. Azonuchechi Chukwu. Despite the harsh operating business environment...

Naira Depreciates to N1,570/$ in the Black Market

July 18, 2024. Azonuchechi Chukwu. The Nigerian Naira on Wednesday depreciated...

Nigerian Stock market declines by 0.04% as MTN sheds weight

July 18, 2024. Azonuchechi Chukwu. Nigerian stock market on Wednesday declined...
× How can I help you?