NVIDIA holds the third place by capitalization
11.03.24
NVIDIA shares during the new week continued its rise after reaching a market capitalization of $2 trillion at the end of last week. With the price strengthening by 3.61% to $852.52 apiece, the company’s shares made it the world’s third-largest capitalization, overtaking Saudi Aramco, whose capitalization fell to $2.01 trillion.
Until the end of February, NVIDIA was third only within the American market, and Saudi Aramco occupied this position in the global ranking. Since the beginning of the year, NVIDIA shares have increased by 72.12%, increasing the company’s capitalization to 2.13 trillion. It remains behind Apple and Microsoft, but now bypasses Saudi Aramco.
During this period, Saudi Aramco’s shares fell by more than 5% due to OPEC+’s decision to reduce oil production to stabilize prices. The capitalization gap between the two companies isn’t too wide yet, but NVIDIA shares continue to rise amid investor expectations for growth in the artificial intelligence business.
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