Nvidia, the chip manufacturer, has surpassed other tech giants to claim the title of the world’s most valuable publicly traded company.
Bolstered by the surge in generative AI enthusiasm, Nvidia’s stock price soared by 3.4% around 1:25 pm (1725 GMT), propelling its market capitalization to approximately $3.3 trillion—slightly ahead of Microsoft and Apple.
Led by Jensen Huang, Nvidia owes its success to the insatiable demand for its powerful GPU chips, which have been at the forefront of AI advancements.
In May, the company reported a net profit of $14.9 billion, with revenue reaching nearly four times the figure from the same fiscal quarter last year, totaling $26 billion.
Wedbush Securities predicts an intense race toward a $4 trillion market cap in the tech sector over the next year, with Nvidia, Apple, and Microsoft vying for supremacy.
The significance of Nvidia’s GPU chips in driving the 4th Industrial Revolution is akin to gold or oil in the technology landscape.
