Nvidia Surpasses Microsoft and Apple to Become Most Valuable Public Company
Money | June 18, 2024, 3:13 p.m.
Nvidia has surpassed Microsoft and Apple to become the world's most valuable public company, fueled by the boom in generative artificial intelligence and the increasing demand for its graphics processing units (GPUs). In just two years, Nvidia's market valuation has skyrocketed from over $400 million to more than $3 trillion. This rapid rise in market value is one of the fastest in history. Nvidia's CEO, Jensen Huang, had the foresight to bet on the importance of GPUs in building artificial intelligence years before other major chip companies. On Tuesday, Nvidia's market value reached $3.34 trillion, while Microsoft and Apple both experienced declines. With its innovative approach and leading technology, Nvidia has established itself as the new king of the stock market, showcasing its dominance in the tech industry.