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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.

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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.

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