Trendingger Posted June 5 Share Posted June 5 Nvidia has eclipsed Apple to become the world’s second most valuable company. The AI chipmaker's market capitalization has skyrocketed to a staggering $3.014 trillion, surpassing Apple’s valuation of $3.00 trillion. This surge in value is largely attributed to the ongoing AI boom, which has seen mega-cap tech companies scramble to secure Nvidia’s supply-constrained AI-enabling GPU chips. The company’s ascent has been nothing short of extraordinary. In February 2024, Nvidia’s valuation hit the $2 trillion mark. By May 2023, it had already reached $1 trillion. The rapid pace of growth is unprecedented, with Nvidia reaching the $3 trillion milestone in just 66 trading days. In contrast, Apple took 719 trading days to move from $2 trillion to $3 trillion. Nvidia’s success story is not just about numbers. It’s a narrative of technological advancement and strategic foresight. The company’s CUDA platform has become the go-to for AI engineers, creating what some analysts describe as an 'impenetrable moat’. As Nvidia continues its upward trajectory, Apple finds itself in a challenging position. Despite trading near record highs, Apple’s stock has stagnated over the past year as investors eagerly await the company’s AI strategy. With Microsoft currently holding the title of the world’s most valuable company at $3.15 trillion, the inevitable question arises: How long before Nvidia claims the top spot? Share your views in the comments below. Read more: https://www.investors.com/news/technolog… https://markets.businessinsider.com/news/stocks/nvidia-stock-bigger-than-apple-2nd-most-valuable-company-global-2024-6 https://www.morningstar.com/news/marketwatch/20240605377/nvidia-is-now-worth-more-than-3-trillion-and-worth-more-than-apple https://thehill.com/policy/technology/4706243-nvidia-crosses-3-trillion-overtakes-apple-as-second-most-valuable-company/ Images: Dragan Mihajlovic, Songquan Deng | Dreamstime.com Quote Link to comment Share on other sites More sharing options...
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