NVIDIA BECOMES WORLD’S MOST VALUABLE COMPANY AMID AI-FUELED MARKET SURGE

Wed 19 June 2024:

Nvidia (NVDA.O) has ascended to the position of the world’s most valuable company, reflecting investors’ high expectations for artificial intelligence’s impact on the global economy. The semiconductor giant’s shares increased by approximately 3% on Tuesday, raising its market value to around $3.33 trillion and surpassing both Microsoft (MSFT.O) and Apple (AAPL.O).

The remarkable growth in Nvidia’s market value, driven by strong demand for its industry-leading AI chips, has seen its shares soar over 170% this year and roughly 1,100% since their low in October 2022. The company’s rapid rise from $2 trillion to $3 trillion in market value, accomplished in just 96 days, underscores the fervent investor enthusiasm surrounding AI. In comparison, Microsoft and Apple took 945 and 1,044 days, respectively, to achieve the same growth milestone.

Nvidia’s exceptional performance stands out among the historical peaks of U.S. companies, with only 11 firms reaching the top market value spot since 1925. The trajectory of previous leaders like Microsoft, Exxon Mobil (XOM.N), and Cisco (CSCO.O) highlights the variable fortunes of top companies over the decades, often influenced by broader economic trends and sector-specific challenges.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

______________________________________________________________

FOLLOW INDEPENDENT PRESS:

WhatsApp CHANNEL
https://whatsapp.com/channel/0029VaAtNxX8fewmiFmN7N22