Nvidia has overtaken Apple to become the world’s second most valuable company, with its market value now exceeding $3 trillion. This achievement comes as Nvidia’s stock hit record highs and with an upcoming ten-for-one stock split set to take effect on June 7.
This change marks a significant shift in the tech industry, traditionally dominated by Apple since the introduction of the iPhone in 2007. Nvidia’s rise to prominence highlights its leadership in the field of artificial intelligence (AI) chipmaking.
Although Microsoft still holds the top spot with a market value of $3.15 trillion, Nvidia’s rapid growth this year has been remarkable. The company’s market value has increased by 147% in 2024, driven by the high demand for its processors from tech giants investing heavily in AI technologies.
On Wednesday alone, Nvidia’s market value surged by nearly $150 billion, an increase that alone surpasses the entire value of AT&T. This impressive growth underscores the crucial role that AI technology and Nvidia’s chips play in the future of computing and technology development.
Nvidia’s success story reflects a broader trend in the tech industry, where companies focusing on advanced technologies like AI are seeing substantial growth and investment. As Nvidia continues to innovate and expand, it is likely to remain a key player in the industry, potentially challenging even the biggest names like Microsoft and Apple in the coming years.
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