Apple shares fell approximately 1% this Tuesday, giving it a market value of $3.28 trillion. Meanwhile, Microsoft shares are down less than one percentage point, giving it a market capitalization of $3.32 trillion.
The rally has raised co-founder and CEO Jensen Huang’s net worth to approximately $117 billion, making him the 11th richest person in the world, according to Forbes.
Nvidia became the most valuable company in the world this Tuesday, as its shares rose 3.4%, giving it a market capitalization of approximately $3.3 trillion. With this, the leading semiconductor company is now ahead of Microsoft and Apple.
It should be remembered that as reported Ambitearlier this month, Nvidia surpassed Apple in market value for the first time since 2002. The two have been trading positions in recent days, with Apple briefly overtaking Microsoft for first place last week.
And the shares of the company led by Jensen Huang have risen more than 170% so far this year and climbed even further after the company reported first quarter earnings in May. The stock has risen more than nine times since the end of 2022, an increase that has coincided with the emergence of generative artificial intelligence.
The S&P500 locomotive
Nvidia has approximately 80% of the market for AI chips used in data centersa business that has grown enormously as OpenAI, Microsoft, Alphabet, Amazon, Meta and others have rushed to acquire the processors needed to build AI models and run increasingly larger workloads.
For the most recent quarter, revenue in Nvidia’s data center business increased 427% compared to the previous year, reaching $22.6 billion, representing approximately 86% of the company’s total sales. company.
Nvidia performance last five years.jpeg
On the other hand, Apple’s shares fell approximately 1% this Tuesday, giving it a market value of $3.28 trillion. Meanwhile, Microsoft shares are down less than one percentage point, giving it a market capitalization of $3.32 trillion.
Founded in 1991, NVidia spent its first few decades primarily as a hardware company that sold chips so gamers could run 3D titles.. He has also dabbled in cryptocurrency mining chips and cloud gaming subscriptions. But over the past two years, Nvidia shares have soared as Wall Street recognized the company’s technology as the driving force behind an explosion in AI. which shows no signs of slowing down. The rally has raised co-founder and CEO Jensen Huang’s net worth to approximately $117 billion, making him the 11th richest person in the world, according to Forbes
Source: Ambito
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