Nvidia has become the world’s most valuable company, surpassing Apple and Microsoft due to the high demand for their artificial intelligence chips. The company’s market capitalization is now $3.34 trillion, with CEO Jensen Huang ranking as the 12th richest person in the world. Nvidia’s chips are utilized by industry leaders such as OpenAI, Tesla, and Microsoft for AI development. The company controls 80% of the market for AI data center chips and saw a 427% increase in revenue from this segment in the first quarter.
The rise of Nvidia has attracted the attention of federal antitrust regulators, with an investigation launched by the Justice Department into Nvidia’s business practices. Microsoft and Apple have also made advances in the AI sector, with Microsoft investing in OpenAI and Apple introducing AI features in its products. Despite regulatory scrutiny, analysts predict continued growth for technology companies, with the race to a $4 trillion market cap between Nvidia, Apple, and Microsoft taking center stage in the tech industry.
Article Source
https://nypost.com/2024/06/18/business/nvidia-surpasses-microsoft-as-worlds-most-valuable-company/