In recent years, the American firm has experienced tremendous growth due to the AI boom. As a result, Nvidia, an AI microchip maker, has become the world’s second most valuable public company, with a market capitalization of over $3 trillion (£2.34 trillion). Microsoft is currently the most valuable listed on a stock exchange, while Apple has fallen into third place.
On Wednesday, Nvidia shares rose 5% after another year of growth. A single share now costs $1,224.40 (£957), up from $386.54 (£302) a year ago. Despite this increase in value, investors have continued to flock to the company to invest in its AI technology. In fact, just recently Nvidia announced a “stock split,” which will increase the number of shares available and decrease their value per share as a result. This move is set to take place on Friday and will allow more people to invest in the company’s technology.
Tech companies such as Microsoft and Apple have been racing to develop AI and integrate it into their products. However, Nvidia is unique among its peers as it was founded in 1993 and is based in Santa Clara, California. The American multinational corporation and technology company has been developing microchips since its inception and has been adding machine learning features to its products for years. With its continued success in the AI industry, Nvidia is well-positioned for continued growth in the future.
