The Chip manufacturer’s shares gained 3% this Tuesday on Wall Street and reached a market capitalization of US$3.4 trillion.
Chip manufacturing company Nvidia surpassed Apple this Tuesday and became the most valuable company in the world for the second timewith a market capitalization of US$3.4 trillion. Happened after its shares rose 3% on Wall Street.
So far this year, the technology papers rose 182%mainly as a consequence largely of its graphic processing units and its artificial intelligence services. In June the firm had already been crowned briefly (for just a few hours) as the company with the highest value.
Nvidia’s leap
The company, founded in 1991, has become a leader in the artificial intelligence sector and this year has been crowned ‘the pretty girl of Wall Street’. It is the largest supplier of graphic processing units for technological and its products are used in software tools such as OpenAI’s chatbot ChatGPT.
The success of its products led it to obtain between February and August a net profit of US$31,480 millionwhich represented a 282% year-on-year jump which he attributed to the high demand for his products.
On the other hand, last week, The owner of the Dow Jones index announced that Nvidia will replace Intel in this indicator on November 8 to ensure “more representative exposure to the semiconductor industry.”
In parallel, Apple shares on Wall Street gained 17% in 2024: The company was the first to reach a market capitalization of US$1 million and, later, US$2 million, according to the specialized portal CNBC.
Currently, the five companies that dominate the ranking of the largest listed companies are all from the technology sector: Nvidia is followed by Apple, Microsoft, Amazon and Alphabet.
Source: Ambito
