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Nvidia shares soar almost 6% before the split and after surpassing Apple in marketcap

Nvidia shares soar almost 6% before the split and after surpassing Apple in marketcap

This impressive growth allows it to rank above Apple and become the second largest company in the world, only behind Microsoft, which has a market capitalization of $3.15 trillion.

Reuters

Nvidia surpassed Apple in market capitalizationreaching $3 billion in a few days before the start of the unfolding (split) of shares of 10 for 1, as announced Ambit.

Thus, the artificial intelligence giant Nvidia sees its shares increase 5.6% this Thursday, raising its market capitalization to $3.02 trillion. This impressive growth allows it to rank above Apple and become the second largest company in the world, only behind Microsoft, which has a market capitalization of $3.15 trillion.

On Nvidia’s 10-for-1 stock split

Investors who own Nvidia shares at the end of Thursday will be eligible for the stock split, allowing them to receive nine additional shares for every share they own by then. ANDThis will result in the shares being valued at one-tenth of the market value at Friday’s closing price. Nvidia shares will stop trading during this period and will resume trading on Monday, June 10, when the US markets open.

Boosted by Nvidia’s rise, the technology-focused Nasdaq Composite closed at 17,187.92, advancing 2%, marking a new all-time high. Wall Street’s benchmark S&P 500 rose 1.2% to finish at a new closing high of 5,354.03. Additionally, the Philadelphia Semiconductor Index (SOX) rose 4.5% to finish at 5,347.44, also marking an all-time closing high. In intraday trading, the index hit an all-time high of 5,348.91.

Nvidia.jpg

On June 2, at the Computex technology fair in Taipei, Nvidia unveiled its new AI chip architecture called “Rubin.” Notably, in March, the chipset giant Generative AI announced its upcoming AI platform called “Blackwell”. This shows the fierce competition in this space as industry leaders are busy improving their offerings in record time.

On May 22, the CEO Jensen Huang He said the company’s upcoming next-generation AI chip, Blackwell, is the next driver. These chips will be available in data centers in the fourth quarter of fiscal 2025. Huang said, “We will see a lot of revenue from Blackwell this year.” These chips are essential for customers’ interconnected infrastructure.

The Rubin architecture will have new GPUs to launch AI systems, CPUs and network chips. It will also have new features such as a central processor called “Vera.” Rubin is scheduled to be unveiled in 2026.

Source: Ambito

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