Nvidia Overtakes Microsoft as World's Most Valuable Company
Nvidia surpasses Microsoft as world's most valuable company, driven by AI chip demand and strategic partnerships. CEO Jensen Huang's leadership propels company to $3.3 trillion market valuation, solidifying Nvidia's position as a tech giant.
On Tuesday, June 18, an American technology company called Nvidia, which produces graphics cards, overtook Microsoft to take the top spot as the most valuable company in the world.
The value of the American technology company's stock increased by 3.5 percent to $135.58 per share.
Its market valuation increased to $3.3 trillion as a result of this surge.
Nvidia has established itself as a technological powerhouse, owing to its highly sought-after chips that power data centers and enable complex computations for artificial intelligence (AI) applications, cementing its position as a global leader in the field.
Microsoft is also emerging as an early leader in the AI landscape, thanks to its strategic investment and partnership with OpenAI, the pioneering company behind the revolutionary ChatGPT technology.
Following the revelation of its intention to use Al, Apple, which is presently ranked third, has also experienced a boost in its shares.
Investors are happy with this decision, according to Bloomberg.
The co-founder and CEO of the firm, Jensen Huang, has also become one of the wealthiest people in the world as a result of Nvidia's skyrocketing stock price.
Huang now has a $115 billion net worth, up more than $70 billion since the start of the year.
He now stands in 12th place on the Bloomberg Billionaires Index, the largest gain of any of his fellow billionaires, thanks to this remarkable rise.
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