Subj : Nvidia officially becomes the world's most valuable company  now
To   : All
From : TechnologyDaily
Date : Wed Jun 19 2024 19:45:05

Nvidia officially becomes the world's most valuable company  now can it stay 
there?

Date:
Wed, 19 Jun 2024 18:35:57 +0000

Description:
Nvidia has once again risen to become the worlds most valuable company 
following AI surge.

FULL STORY
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Nvidia has seen another market surge to become the worlds most valuable 
company, surpassing many of its key rivals once again. 

The company, which has become synonymous with building components designed to 
power the data centers behind the AI push, now has a market cap of $3.335 
trillion, putting it just a touch ahead of Microsoft, current second-place 
holder, and Apple, which resides in third place. 

Nvidias latest success of taking prime position comes in the same month that 
the company became the third in the world to hit a market cap of $3 trillion. 
Nvidia takes top spot 

Since hitting the $3 trillion mark almost a year ago, Apples growth has 
stagnated somewhat, with the company interchangeably occupying first and 
second place with Microsoft, each representing a market cap around $1 
trillion more than Google, which was typically a third-place holder. 

Recent months have seen share prices in Nvidia skyrocket since the start of 
the calendar year, theyre up 181%. Nvidia share prices have gone through the 
roof in the past five years, up 3,477%. 

In the most recent quarter, Nvidias data center revenue surged 427% 
year-over-year to $22.6 billion, comprising around 86% of the companys total 
sales. Major tech companies like OpenAI, Microsoft, Alphabet, Amazon and 
Meta, which are already battling it out to push their market caps to new 
limits, have invested heavily in Nvidias processors to build and run large AI 
models. 

CEO Jensen Huang, who holds a 3% share in Nvidia, is now estimated to be 
worth around $118.7 billion, making him the 11th wealthiest individual on the 
planet, sitting two places behind ex-Microsoft CEO Bill Gates. 

Despite its initial beginnings in the gaming industry, Nvidias dominance in 
the AI market highlights the impact of artificial intelligence both within 
the tech sector and on the global economy. 

While Nvidias growth in recent months has been mightily impressive, finance 
experts are beginning to wonder whether the company will be able to sustain 
its upward trajectory for much further. With the previous $3 trillion glass 
ceiling already smashed, might Nvidia be the first company to hit a $4 
trillion market cap? More from TechRadar Pro Nvidia is booming  but the UK 
government and others are keeping a very close eye on chip giant, here's why 
Weve rounded up a list of the best AI tools and best AI writers Check out the 
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Link to news story:
https://www.techradar.com/pro/nvidia-officially-becomes-the-worlds-most-valuab
le-company-now-can-it-stay-there


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