Nvidia Surges to Become the Most Valuable Company in the World: AI Driving Demand for Chips

Nvidia, a leading chipmaker, has surpassed Microsoft to become the most valuable company in the world. The company’s chips are in high demand for artificial intelligence applications, driving its stock price up 3.2% to $135.21 and giving it a market capitalization of $3.326 trillion. This makes Nvidia more valuable than Apple, which held the top spot just days ago.

Tech giants like Microsoft, Meta Platforms, and Google-owner Alphabet are all investing heavily in developing their AI computing capabilities to stay competitive in this rapidly evolving field. The surge in Nvidia’s shares led to a record high stock price and added over $103 billion to its market capitalization.

Nvidia recently split its stock ten-for-one, making it more accessible to individual investors. This move was well-received by the market, with many seeing it as a positive for retail investors. Despite facing competition from tech giants like Microsoft and Google-owner Alphabet, Nvidia’s market value has continued to grow exponentially, going from $1 trillion to $2 trillion in just nine months before hitting $3 trillion in June. Investors and analysts are closely watching Nvidia’s continued growth in the market.