Nvidia surpassed Apple to become the world’s second most valuable company with a market value of over $3 trillion due to the demand for its AI chips. Despite a slight dip in stock prices for Nvidia, Apple, and Microsoft, investors are still showing interest in technology companies like Nvidia that provide advanced hardware for AI workloads. Nvidia’s data center chips are driving what CEO Jensen Huang calls a new “industrial revolution” with productivity-enhancing features, leading to a surge in revenue and a stock split. While some fear a bubble, Nvidia’s valuation remains reasonable when compared to historical or expected earnings. Rivals like AMD and Intel are trying to capture some of Nvidia’s market share, but Nvidia continues to lead in the global technology race for advanced AI hardware and software tools. Huang has promised new chips and products, with expectations that they will generate significant revenue. Apple, on the other hand, is expected to unveil its plan for generative AI features at its upcoming Worldwide Developers Conference. While falling behind in the generative AI market, Apple remains optimistic and has announced a large share buyback. Overall, the race for semiconductor supremacy continues with companies like Nvidia and Apple navigating the ever-changing technology landscape.
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https://www.ft.com/content/f5f7bce2-6a97-42a0-80ca-74468cf8c023
Nvidia surpasses Apple to become the first company with a market capitalization over $3 trillion.
