Nvidia has surged to become the world’s most valuable publicly traded company, with a market capitalization of approximately $3.3 trillion after its shares jumped 3.4 percent. This places the AI company ahead of Microsoft and Apple in terms of market value. Earlier this month, Nvidia overtook Apple in market value for the first time since 2002, and the two companies have been trading back and forth in the top spot recently, with Apple briefly overtaking Microsoft last week.
Nvidia’s stock has seen a massive surge this year, rising about 173%, while Microsoft has only experienced a 19% increase in its share price. Tech giants like Microsoft, Meta Platforms, and Alphabet are all competing to develop their AI computing capabilities and maintain their position as leaders in the technology sector. The surge in Nvidia shares pushed the stock to a record high, adding over $103 billion to its market capitalization in just one day.
Sam North, a market analyst at investment platform eToro, believes that Nvidia’s recent 10:1 stock split will make the stock more accessible to individual investors, making them the true beneficiaries of the company’s growth. The rapid growth of Nvidia’s market value from $1 trillion to $3 trillion in just nine months is a testament to the company’s strong performance in the market. With impressive gains and innovative technology, Nvidia continues to stay ahead of its competitors in the tech industry.
