NVIDIA became more expensive than Apple due to AI hype
12.06.24
NVIDIA’s revenue growth, driven by a boom in artificial intelligence technology, has caught the attention of investors, contributing to a significant increase in the value of the company’s shares. Over the past year, NVIDIA shares have grown several times, and last winter the company entered the top three technology companies by market value.
NVIDIA currently ranks second on this list, overtaking Apple Corporation with a market value of $3 trillion.
According to the results of yesterday’s trading, the value of NVIDIA shares increased to $1224.4, which increased the company’s market capitalization to a record mark of $3.01 trillion.
In February, the market value of NVIDIA was about $2 trillion. The company is now second only to Microsoft, whose market capitalization is $3.15 trillion. NVIDIA may overtake Microsoft in the coming months.
Last quarter, NVIDIA ended with a record revenue of $26 billion, which is more than 3.5 times higher than the same period last year. In the current quarter, the company plans to break the record, counting on a turnover of about $28 billion.
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