Nvidia’s market value exceeds $3 trillion, making it the second most valuable company in the world.
The market value of chip maker Nvidia Corp has surpassed $3 trillion. Thus, Nvidia surpassed Apple and became the second largest company in the world by capitalization after Microsoft, writes Bloomberg.
In March, Nvidia reached third place in the world by market value. Then its capitalization increased to 2.06 trillion. dollars.
Additionally, Nvidia became the first computer chip company in the world to reach a market value of $3 trillion.
The company’s shares have risen about 147% this year, raising about $1.8 trillion, “as insatiable demand for its chips used to solve artificial intelligence problems increases .”
On June 5, Nvidia shares rose 5.2% to close at a record $1,224.40.
The last time Nvidia was worth more than Apple was in 2002, five years before the release of the first iPhone. At the time, both companies were valued at less than $10 billion each.
Let’s remember that Russia, despite the sanctions imposed by Western countries, last year imported advanced American and European chips worth more than a billion dollars.
Despite some restrictions, Chinese companies are buying American equipment for chip production.
Source: korrespondent
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