NVIDIA overtook Microsoft’s capitalization and is now the most valuable company in the world
24.06.24
Over the past few years, NVIDIA has made an impressive leap to the heights of financial power. The company has become a key supplier of specialized hardware for artificial intelligence systems, showing steady growth and gradually overtaking industry leaders whose positions previously seemed unshakable.
Earlier this month, the green giant surpassed Apple. NVIDIA’s market cap has now reached an impressive $3.334 trillion, surpassing Microsoft’s $3.325 trillioncap. Thus, NVIDIA became the most expensive public company in the world.
Perhaps the share price will change in the coming days and Microsoft will regain the top spot, but in the long run Nvidia’s lead seems clear. Such success is explained by the boom in artificial intelligence. Since 2022, NVIDIA shares have increased more than 9 times, and in the first half of the current year, the growth was more than 170%. NVIDIA currently controls about 80% of the AI chip market.
The company’s products are actively purchased by IT giants such as Microsoft, Alphabet, Amazon and Meta. Despite the fact that many of them develop and release their own specialized chips for AI, a worthy alternative to Nvidia’s computing accelerators and servers does not yet exist.
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