web analytics
infinix banner

NVIDIA is now the second most valuable company in the world

Nvidia’s stock soared to record highs on Wednesday, with the artificial intelligence chipmaker’s valuation surpassing the $3 trillion mark.

This milestone positions Nvidia ahead of Apple, making it the world’s second most valuable company.

Nvidia’s stock closed the day with a 5.2% increase, reaching $1,224.40 per share, and bringing its market capitalization to $3.012 trillion. In comparison, Apple’s market capitalization stood at $3.003 trillion after a 0.8% rise in its stock price.

Microsoft remains the world’s most valuable company with a market cap of $3.15 trillion, following a 1.9% increase in its shares.

Nvidia’s remarkable growth is attributed to the booming demand for its AI processors.

Nvidia’s stock has surged 147% in 2024, driven by high demand for its cutting-edge processors. Companies like Microsoft, Meta Platforms, and Google-owner Alphabet are racing to enhance their AI computing capabilities, further fueling Nvidia’s growth.

Additionally, Nvidia is preparing for a ten-for-one stock split, effective June 7, which is expected to boost its appeal to individual investors. This strategic move signifies a significant shift in Silicon Valley, where Apple has been a dominant force since the iPhone’s launch in 2007.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,086 other subscribers
Avatar for Miguel Ty

Miguel Paolo Ty is an Executive Producer at YugaTech. Outside Yugatech he's known as a Content Producer that specializes in video production. He first joined YugaTech in 2019 as a Multimedia Producer for a year and returned in 2023 as a senior member of the team, poised to produce engaging tech content for the Yugatech audience. Miguel graduated with a degree in Digital Filmmaking at the De La Salle - College of St. Benilde in 2018.

Leave a Reply
JOIN OUR TELEGRAM DISCUSSION

Your email address will not be published. Required fields are marked *