Nvidia’s stock price surged over 3% on Tuesday, making it the world’s most valuable company ahead of Microsoft. The company’s market capitalization reached $3.335 trillion, surpassing Apple to become the second most valuable company recently. Nvidia’s value has skyrocketed from $1 trillion to $3 trillion in a short period, with its stock price nearly tripling this year.
On the other hand, Microsoft’s stock price declined slightly, leaving its market value at $3.317 trillion, while Apple’s stock price also fell, lowering its value to $3.286 trillion. Nvidia’s stock split increased its appeal to individual investors, contributing to its remarkable performance. The company’s success is attributed to the growing optimism around Artificial Intelligence (AI) technology.
Nvidia’s stock rally has set new records on Wall Street, with the company now accounting for 16% of all S&P 500 transactions. The high demand for Nvidia’s AI processors, which are considered superior to competitors, has resulted in a shortage in supply. Investors see Nvidia as a significant beneficiary of the AI development trend, contributing to the company’s market dominance.
The surge in Nvidia’s stock price has also propelled the S&P 500 and Nasdaq to all-time highs. The chipmaker has become the most traded company on Wall Street, with daily revenue exceeding that of major tech companies like Apple, Microsoft, and Tesla. The company’s success is driven by the increasing adoption of AI technology and the strong performance of its products in the market.
In conclusion, Nvidia’s rapid rise to become the world’s most valuable company reflects the increasing importance of AI technology in the market. The company’s innovative products and growing demand for its processors have positioned it as a leader in the industry. Investors continue to show confidence in Nvidia’s future growth potential, driving its stock price to new heights.
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https://www.livemint.com/market/stock-market-news/nvidia-surpasses-microsoft-to-become-world-s-most-valuable-company/amp-11718766169484.html
