Nvidia Becomes Most Valuable Company in the World
June 19, 2024 | Investopaper
Nvidia has become the most valuable company in the world. On Tuesday, Nvidia achieved its highest ever share price, surpassing Microsoft to become the world’s most valuable company.
Nvidia, a producer of chips used in electronic devices, saw its share price increase by 3.5%, reaching a market valuation of $3.33 trillion. In comparison, Microsoft’s total market capitalization stands at $3.31 trillion, and Apple’s market value is $3.28 trillion, making it the third most valuable company.
Nvidia has been producing computer chips essential for artificial intelligence (AI) software. With the recent surge in AI technology, the demand for Nvidia’s products has increased significantly.
The ongoing competition in AI technology among major tech companies such as Microsoft, Alphabet (Google), Meta, and Apple is expected to benefit Nvidia in the future.
