Nvidia has recently taken over the top spot as the most valuable company in the world, surpassing Microsoft on June 18th. Its market capitalization now stands at $3.3 trillion, a significant increase from just a year and a half ago when it was valued at a fraction of that amount. Investors are showing strong interest in Nvidia’s shares, driven by the popularity of its artificial intelligence chips among tech giants. In the quarter that ended in April, Nvidia’s revenue saw a substantial 262% increase compared to the previous year, while its net income spiked by an impressive 628%. The company’s rapid growth and success in the market have catapulted it to the forefront of the tech industry, solidifying its position as a major player in the field of artificial intelligence.
Article Source
https://www.economist.com/business/2024/06/20/nvidia-is-now-the-worlds-most-valuable-company
