Nvidia surpasses Apple and Microsoft to become the most valuable business in the world as its market capitalization hits $3.34 trillion!
The business that creates and produces AI-based semiconductors, Nvidia, shocked everyone by rising to the top of the global valuation rankings.
Nobody predicted that Nvidia would rise to the top of the global value chain six months ago. Its market capitalization hit $3.34 trillion on June 18. The share price of the company has increased by an astounding 181% since January.
It was priced at $48 on January 2, 2024, and as of June 18, it was $135.58. In other words, the investor’s money has grown by more than 2.5 times since they made their investment on January 2, 2024. This is not an easy task for a corporation of this size. This demonstrates the company’s strength and the predictability of its business.
Leaving everyone in the market capitalization chase behind
Nvidia won the race for market capitalization by defeating Amazon, the parent company of Facebook, Meta, and Alphabet, the parent firm of Google. On June 18, it happened. No one had predicted that it would leave Apple and Microsoft behind. In little than a month, this stock has increased by around 45%. On June 18, Jensen Huang, the company’s founder, and Nvidia were officially added to history.
How to install and use Nvidia
Jensen Huang is the Nvidia founder. In 1993, he established this company. Even though he founded the business, he only holds 3.5% of its equity. He currently has roughly 64 billion dollars in wealth.
This business used to manufacture mainly graphics chips for video games, but eventually it decided to start producing AI-based chips and invested a lot of money in R&D. After investing over $10 billion in research and development, the business released the first AI-based chip, and it is currently the biggest manufacturer of AI-based chips worldwide. Cloud computing and cryptocurrency mining are two applications for this company’s processors. Nvidia provides semiconductors that are used by companies such as Amazon, Microsoft, and Google for their cloud operations.