Subj : Nvidia could be about to knock Apple off the top spot for most va
To   : All
From : TechnologyDaily
Date : Tue Oct 15 2024 14:30:04

Nvidia could be about to knock Apple off the top spot for most valuable 
company

Date:
Tue, 15 Oct 2024 13:26:10 +0000

Description:
After a brief moment in pole position, Nvidia is set to overtake Apple and 
become the worlds most valuable company.

FULL STORY
======================================================================

Shares of Nvidia has surged to a record high once more, closing at $138.07 on 
Monday, leading it well on its way to becoming the worlds most valuable 
company again. 

Per CNBC , Nvidia had dropped a couple of places to make room for long-time 
leaders Apple and Microsoft after a very brief period in pole position. 
However the chipmaker has now overtaken Microsoft once more and set its 
sights on the Cupertino iPhone maker. 

With a market cap of $3.386 trillion, Nvidia is one of only three companies 
to have surpassed a three-trillion-dollar valuation. Nvidia set to be most 
valuable company again 

Nvidias early entry into the artificial intelligence (AI) chip market has 
allowed it to become a dominant player in the ongoing AI race, with major 
tech companies and market cap rivals like Microsoft, Google, Meta and Amazon 
purchasing its processors to support their expanding AI infrastructure. 

Nvidia shares are up 186.6% this year to date, and up a staggering 2,800.6% 
over five years. Much of Nvidias success must be credited to the public 
preview launch of ChatGPT in November 2022, which fueled widespread interest 
and adoption of the technology. 

In the space of twelve months, Nvidia has more than doubled its quarterly 
revenue to the sum of $30 billion thanks to its 95% share in the AI chips 
market. However, this is a long reach from Apples most recent quarterly 
revenue of $85.8 billion. 

Furthermore, Nvidias upcoming Blackwell chips could further boost revenue as 
companies look to acquire more powerful components to futureproof their 
infrastructure, which analysts predict could reach nearly $33 billion this 
quarter. If true, it would mark a considerable 82% year-over-year increase. 

However, despite off-the-scale figures, some investors remain cautious that 
optimism surrounding AI could fade, leaving Nvidia with little to hang on to. 
More from TechRadar Pro Consider the best processors to upgrade your device 
Weve rounded up a list of the best AI writers Nvidia officially becomes the 
world's most valuable company  now can it stay there?



======================================================================
Link to news story:
https://www.techradar.com/pro/nvidia-could-be-about-to-knock-apple-off-the-top
-spot-for-most-valuable-company


--- Mystic BBS v1.12 A47 (Linux/64)
 * Origin: tqwNet Technology News (1337:1/100)

.