Nvidia world’s most valuable company
June 19, 2024
Nvidia, the California-based chipmaker, has become the world’s most valuable company after its share price climbed to an all-time high.
The company is now worth $3.34 trillion (€3.11tn), overtaking fellow tech giants Microsoft and Apple, with its price having nearly doubled since the start of 2024.
Nvidia’s stock ended the trading day on June 18th at nearly $136, up 3.5 per cent. Microsoft’s stock market value was $3.317 trillion as its shares dropped 0.45 per cent. Apple’s stock (which Nvidia overtook in May) slipped over 1 per cent, leaving its value at $3.286 trillion.
Nvidia’s stratospheric rise has been fuelled by its chips which run generative Artifical Intelligent (AI) models, such as OpenAI’s ChatGPT. Nvidia also benefitted significantly from a rush to mine Bitcoin in 2020, which saw a sharp increase in sales of its graphics cards.
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