Nvidia has surpassed its competitors from Microsoft and Apple in capitalization, and video cards have nothing to do with it.
On Tuesday, June 18, 2024, Nvidia became the most valuable company in the world. The chip maker has been showing steady growth for a long time, first surpassing its competitors Apple, and now Microsoft.
According to the latest data, the company's shares rose by 3.51%, reaching a value of $135.58 per share, which allowed to increase the market capitalization to $3.335 trillion, just two weeks after Nvidia managed to overtake Apple and take the second place in the ranking.
Such a result has an indirect relation to the gaming industry – now the tech industry is moving towards increasing the use of artificial intelligence, and many large companies resort to cooperation with Nvidia, which was the first to push for the creation of technologies for working with AI. Even the main people's “favorite” – ChatGPT from OpenAI uses technologies created by Nvidia.
Image source: Coinmarketcup
Nvidia President Jensen Huang has not yet become the richest person on the planet, but over the past year and a half, his net worth has grown by $93 billion, putting his net worth at over $100 billion.
***
Cover by Tom Williams Cover source: Yahoo UK