Nvidia reclaimed the name of the world’s most valuable publicly traded company, take over Microsoft in market capitalization on Tuesday. According to a record by CNBC, stocks of the AI chip rise 3% to $141.40, drive its market cost to a spectacular $3.45 trillion. It edge out Microsoft’s $3.44 trillion.
Nvidia Overtake Microsoft
This marks another milestone in Nvidia’s fast ascent, because the company continues to dominate the AI software landscape. Over the past month, its stock surged almost 24%, shrugging off concerns round export regulations and international tariffs, as per the document.
Nvidia has been jockeying with Apple and Microsoft for the top spot in market cap ratings considering mid-2023. It last held the crown on January 24 before Tuesday’s resurgence.
AI driving growth
The growth of Nvidia driven through demand for its AI accelerators, powering the range from OpenAI’s ChatGPT to AI infrastructure at Microsoft, Meta, Google, Amazon, Oracle, and Elon Musk’s xAI. These corporations are pouring billions into building big computing clusters, all reliant on Nvidia’s hardware.
In its latest record, Nvidia posted $44.06 billion in sales and 96 % in adjusted profits per percentage for its fiscal Q1, a 69% year-over-year revenue leap, notable for a company of its size.
Originally founded in 1993 to build stocks for gaming, Nvidia has become the silicon spine of the AI revolution. Its GPUs, once designed to render sensible 3-D images, and give critical support for parallel data processing.
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