Nvidia has surpassed Apple in market capitalization to become the second-most valuable publicly traded corporation. After a gain of more than 5% in shares.
The corporation achieved a landmark $3 trillion market capitalization. Nvidia’s market value at the conclusion of business was $3.019 trillion, while Apple’s was $2.99 trillion.
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Five years prior to the launch of the first iPhone, in 2002, Nvidia’s value was greater than Apple’s. Both businesses had a combined value of less than $10 billion at the time. In May 2023, Nvidia’s market capitalization crossed the trillion-dollar milestone for the first time. In February of this year, it crossed $2 trillion for the first time.
As it ended at a record high on Wednesday, Nvidia overtook Apple to become the second-most valuable firm in the U.S. stock market, surpassing $3 trillion in market capitalization.
This year, the stock has increased in value by almost 147%, or $1.8 trillion. In his words, Jensen Huang, CEO, believes Nvidia will play a major role in the “new Industrial Revolution” that is artificial intelligence. The parent firm of LinkedIn, Microsoft, is currently worth more than the chipmaker.
The first business to reach the $1 trillion, $2 trillion, and $3 trillion market capitalization milestones was Apple. Before Microsoft overtook it this year, it also had the title of most valuable firm for a considerable amount of time.
Jensen Huang, CEO, Nvidia, said: ” it plans to upgrade its so-called AI accelerators every year. Following Wednesday’s stock gain, Jensen Huang’s wealth rose by more than $5 billion to $107.4 billion, as per the Bloomberg Billionaires Index.”
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