Chipmaker Nvidia has surpassed Apple to become the most valued company in the world. Nvidia’s market capitalization crossed the $3.43 trillion mark while Apple was trading at $3.38 trillion. Nvidia’s share surged around 3% to $139.9 to reach a $3.43 trillion market capitalization. Apple’s share also surged 0.65% to $223.45.
It is worth noting that Nvidia also surpassed Apple in June this year to become the largest company. However, it could only stay at the top spot for just one day.
Nvidia shares grew 190% in 2024 and 850% since 2022. The company created good wealth for itself and its investors. Nvidia saw tremendous growth in 2023 due to the AI boom. Nvidia is the top provider of GPUs and it also saw revenue doubling for five quarters. Now the company is worth more than Amazon and Meta combined.
Microsoft is the world’s third most valued company. It has a market capitalization of $3.6 trillion. It is also a key player in the AI field but mainly offers cloud computing services. Apple also launched Apple Intelligence, but it is still far behind in the AI segment. We can expect Microsoft to also surpass Apple in the coming months.
Nvidia will host a conference call on November 20 to discuss its financial results for Q3 which ended in October. The company has been showing strong financial results for the past few quarters and we can expect the same in the next earnings call. It should further boost its market cap.
It will be interesting to see who becomes the first to hit the $4 trillion mark.
