Nvidia is considered the biggest beneficiary of artificial intelligence technology. The company’s shares rose to $3.3 trillion.
Chip maker Nvidia has overtaken Microsoft and Apple to become the world’s most valuable company. Bloomberg reported this on Tuesday, June 18.
The company’s shares rose 3.4% to about $3.3 trillion.
Shares of Microsoft, Apple and Nvidia competed for the top spot throughout the month, but Nvidia outperformed its high-tech rivals.
Nvidia is considered the biggest beneficiary of artificial intelligence technology as it dominates the market with its in-demand chips that help data centers perform the complex computing tasks needed for AI applications.
The company is one of the few companies to have significant revenue growth from AI. At last close, the stock was up more than 160% in 2024, adding more than $2 trillion to its market capitalization.
Recall that in early June, Nvidia surpassed Apple in market value.
OpenAI has started training a new AI model
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.