Nvidia, a California-based chip company, has surpassed Microsoft and Apple as the world’s most valuable publicly traded company. This rise to the top spot is a testament to the growing influence of artificial intelligence (AI) in the tech industry. Over the past 18 months, Nvidia has experienced significant growth fueled by the demand for its powerful GPU chips and advancements in generative AI.
Nvidia’s market capitalization reached about $3.3 trillion after a 3.4 percent increase in its stock price, putting it ahead of industry giants Microsoft and Apple. In May, Nvidia reported a net profit of $14.9 billion and revenue of $26 billion, reflecting the strong momentum behind AI technology. Analysts predict that Nvidia will be at the forefront of the race to reach a $4 trillion market cap in the tech sector, competing closely with Apple and Microsoft.
According to Wedbush Securities, Nvidia’s GPU chips are becoming the new gold or oil of the tech industry, driving both enterprises and consumers to embrace the advancements of the 4th Industrial Revolution. As Nvidia continues to lead in AI innovation, its position as the most valuable company in the world highlights the growing importance of AI in shaping the future of technology.