Nvidia Corporation has surpassed Microsoft as the world’s most valuable company due to a surge in its shares driven by the increasing prevalence of AI. The chipmaker’s shares rose over 3% on Tuesday, reaching $135.58 and boosting its market valuation to $3.335 billion. This milestone comes after Nvidia overtook Apple to become the second most valuable company, with Microsoft trailing closely behind at a valuation of around $3.317 billion. Apple, on the other hand, saw a 1% decline in its stock value.
Nvidia’s stock has skyrocketed nearly threefold this year, in stark contrast to the modest 19% increase in Microsoft’s shares. Since its IPO in 1999 at $12 per share, Nvidia’s stock has surged multiple times, fueled by its innovative technology in GPU development and advancements in AI, robotics, autonomous vehicles, and emerging technologies.
A hypothetical investment of Rs 10,000 in Nvidia’s IPO would have yielded substantial returns, given the stock splits and increased value over the years. With around 19 shares originally acquired in 1999, the investor would now possess approximately 9,120 shares due to stock splits. At the current trading price of $135 per share, these shares are valued at $1,231 million or around Rs 10.3 million, effectively turning the initial Rs 10,000 investment into a crorepati in approximately 25 years.
Former IT Minister Rajeev Chandrasekhar emphasized the reliability of EVMs, stating that they have a foolproof mechanism in a featured video of the day.
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