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Anonymous ID: b6e7d5 June 18, 2024, 1:47 p.m. No.21045112   🗄️.is đź”—kun   >>5285 >>5544 >>5672 >>5734

Nvidia eclipses Microsoft as world's most valuable company

 

  • Nvidia's market cap reaches over $3.3 trillion as stock rallies

  • Demand for Nvidia's AI chips outstrips supply

  • NVDA’s stock has nearly tripled in 2024

Nvidia became the world's most valuable company on Tuesday, dethroning tech heavyweight Microsoft as its high-end processors play a central role in a scramble to dominate artificial intelligence technology. Shares of the chipmaker climbed 3.7% to $135.87, lifting its market capitalization to $3.341 trillion, just days after overtaking iPhone maker Apple to become the second most valuable company. Microsoft's stock market value was $3.314 trillion as its shares dipped 0.5%. Apple's stock slipped 1.2%, putting its value at $3.280 trillion. Nvidia's stunning surge in market value over the past year has become emblematic of a Wall Street frenzy driven by optimism about emerging AI technology. Nvidia's rally has lifted the S&P 500 and Nasdaq to record highs, some investors worry that unbridled optimism about AI could evaporate if signs emerge of a slowdown in spending on the technology.

 

Nvidia has also become by far the most traded company on Wall Street, with daily turnover recently averaging $50 billion, compared to around $10 billion each for Apple, Microsoft and Tesla, according to LSEG data. The chipmaker now accounts for about 16% of all trading in S&P 500 companies. Tuesday's gain lifted Nvidia's stock to a record high and added over $100 billion to its market capitalization.

https://www.reuters.com/markets/us/nvidia-becomes-worlds-most-valuable-company-2024-06-18/