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Home » News » Nvidia Surpasses Microsoft and Apple to Become World’s Most Valuable Public Company

Nvidia Surpasses Microsoft and Apple to Become World’s Most Valuable Public Company

Nvidia surpasses Microsoft and Apple to become the world's most valuable public company, driven by the AI boom and growing demand for GPUs. Discover how Nvidia's strategic vision led to this remarkable achievement.

tech chilli logo by Tech Chilli Desk
Wednesday, 19 June 2024, 9:54 AM
in News
Nvidia Takes the Lead: World’s Most Valuable Company Amid AI Boom

Nvidia Takes the Lead: World’s Most Valuable Company Amid AI Boom

In Short

  • Rapid Market Ascent: Nvidia’s market value skyrocketed from $400 billion to over $3 trillion within a year, marking one of the fastest rises in history.
  • AI-Driven Demand: Nvidia’s GPUs are crucial for constructing AI systems, driving unprecedented growth and market dominance.
  • Strategic Vision: CEO Jensen Huang’s early bet on AI and GPUs has positioned Nvidia at the forefront of the technological revolution, securing over 80% of the market for AI-based system chips.

Meet the New King of the Stock Market as Nvidia beats Microsoft and Apple to become the world’s most valuable public company! This impressive increase is due to the increasing demand for generative artificial intelligence (AI) and the growing need for Nvidia’s GPUs, which are seen as key components for constructing AI systems.

Daniel Newman, chief executive of the Futurum Group, a tech research firm, stated, “No one else fully saw or appreciated this. They saw the trend, built for the trend and enabled the market. They can effectively charge whatever they want.”

Nvidia’s Rapid Ascent

It would not be wrong to say that Nvidia rose to the pinnacle swiftly and systematically. It would be remembered that the company was worth, in market value, about 400 billion bucks just earlier this year. Nvidia had a $1 trillion in value in a year to over $3 trillion, which has been ranked among the fastest-rising in the market. On Tuesday, Nvidia’s share price rose 3.6 percent, lifting its value to $3.34 trillion. Microsoft and Apple both fell, ending the day trailing the Silicon Valley chip maker.

Nvidia’s Next-Gen AI GPUs: Blackwell

AI has put the world’s biggest companies on a new path that involves more competition, more focus on innovation, and more overall uncertainty than was present before. As it was mentioned earlier Microsoft acquired a new highest market capitalization in January leaving behind Apple due to this powerful technology. Now, this giant has been claimed by Nvidia, which again only highlights the impact of AI in its transformational role. Originally developed for accelerating mathematics computations, the demand for AI has skyrocketed and now even Apple placed it into its devices, such as the iPhone this fall.

Nvidia’s bet on AI

Long before most other leading chip makers, Nvidia’s Chief Executive Officer Jensen Huang, read the future of GPUs within the construct of Artificial Intelligence systems. He planned the construction structure of Nvidia in such a way that he wanted to be ready to cash on what he considered would be the next wave of technological revolution. To date, this visionary decision has yielded stellar results: Nvidia has secured over 80% of the market for chips used in AI-based systems.

Microsoft, Google, Future, and other industry giants frequently competed for opportunities to order chips for their vast data centres, which are Nvidia’s biggest customers. To limit reliance on a specific supplier, some of them have become producers of AI chips.

Nvidia takes back the throne as the world’s most valuable public company with massive AI innovation and development. The company’s remarkable uprising shows the potential and how it can help in the advancement of technology in the future.

Jensen Huang at Computex 2024: AI and Robotics to Transform Every Industry

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