The boom in AI technology made American company Nvidia the most valuable company in the world. It surpassed the tech giant Microsoft. Shares of the chip maker rose 3.2% to $135.21 on Tuesday, giving it a market cap of $3.326 trillion.
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A jump of 1 trillion dollars in three months
Just a few days ago, it beat iPhone maker Apple to the second position. The company’s market value has grown from $1 trillion to $2 trillion in just nine months. It took only 9 months. While it took just three months to reach $3 trillion in June.
Its chips are playing a central role in the growing market of artificial intelligence. Shares of Nvidia have jumped nearly 180% so far this year, while shares of Microsoft are up about 19%. Let us tell you that tech giants Microsoft, Meta Platform and Google-owned Alphabet are in a race to build their AI computing capabilities and dominate emerging technologies.
The stock surged to record highs
The surge in the stock took the stock to a record high. This led to a jump in Nvidia’s market cap of more than $103 billion on Tuesday.
What is NVIDIA, whose owner even defeated Ambani, Adani in Raees?
Retail investors are the real winners here: “Nvidia recently split its stock ten for one, making it more affordable to buy at $500,” said Sam North, market analyst at investment platform eToro.
World’s most valuable companies and their market cap
nvidia 3.335 trillion dollars
Microsoft $3.317 trillion
Apple 3.285 trillion dollars
Alphabet 2.170 trillion dollars
Amazon 1.902 trillion dollars
Saudi Aramco $1.787 trillion
Meta 1.266 trillion dollars