Nvidia took the lead as the most valuable company in the world, boasting a market capitalization of $3.34 trillion on Tuesday, surpassing both Microsoft and Apple. This surge in value can be attributed to the global demand for AI processors and Nvidia’s significant growth and financial success. In the first quarter of fiscal year 2024, Nvidia reported revenues of $26.044 billion and net income of $14.881 billion, projecting an impressive $28 billion in earnings for the second quarter. CEO Jensen Huang’s promotion of Nvidia’s AI capabilities and upcoming Blackwell hardware further bolstered investor confidence, leading to a more than 160% increase in Nvidia’s shares in 2024 alone.
Nvidia’s success is driven by interest in its AI and HPC processors, specifically the NVIDIA H100 and H200. The upcoming Blackwell B200 Product Family, slated for release later this year, as well as the anticipated Blackwell RTX 50 series GPU, indicate Nvidia’s focus on expanding its offerings beyond processors to whole data center solutions. Analysts predict that these advancements could propel Nvidia, Microsoft, and Apple towards a historic $4 trillion market capitalization milestone, with Nvidia currently in the lead in the technology race.
Elon Musk’s expressed interest in purchasing 300,000 Blackwell B200 GPUs once they hit the market highlights the widespread anticipation for Nvidia’s latest products. With Nvidia’s trajectory pointing towards continued growth and innovation in the AI market, it is clear why the company has achieved its status as the most valuable company in the world.
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https://www.tomshardware.com/tech-industry/nvidia-is-now-worlds-most-valuable-company-by-market-cap-ahead-of-apple-microsoft-and-google
