Nvidia Becomes World's Second-Most-Valuable Company at $3 Trillion, Overtaking Apple, Amid AI Demand Surge
June 5, 2024
Nvidia Corporation, a major player in the tech industry known for its graphics processing units (GPUs) and advancements in artificial intelligence (AI), has recently made headlines by surpassing Apple Inc. in market valuation. Apple, founded by Steve Jobs, has long been a dominant force in Silicon Valley, especially since the launch of the iPhone in 2007.
Nvidia's market valuation has soared past $3 trillion, briefly surpassing Apple and making it the second-most valuable company in the world, just behind Microsoft. This surge is driven by the high demand for Nvidia's AI-enabled GPUs, which are crucial for machine learning and large-scale AI applications. Nvidia's stock has increased significantly, with a 147% rise in 2024 alone, highlighting the company's rapid growth in the AI sector. The company is also preparing for a ten-for-one stock split, aimed at making its shares more accessible to individual investors.
The total value of a company's outstanding shares of stock, calculated by multiplying the current share price by the total number of shares.
A specialized processor designed to accelerate graphics rendering and perform complex computations for AI and machine learning tasks.
