It appears as though there is no stopping the Nvidia wave, across the board, may it be its business or its shares. The company that has consistently maintained its growth prospects over the years, surged its expansion riding the AI boom, which quadrupled in intensity and magnitude with players like OpenAI and other mainstream tech giants.
Nvidia just shy of the top spot
In a recent development that stands as a testimony to the astronomical growth of the company, Nvidia has surpassed another tech giant, Apple, to become the second most valuable company in the whole world, just behind Microsoft. The company now has a market capitalisation of more than USD 3 trillion.
The chip designing company is only the third company to break the USD 3 trillion mark. According to reports, its current market cap stands at USD 3.011 trillion, surging by as much as 5.16 percent in just the matter of a day.
Microsoft has a total market cap of USD 3.151 trillion. This list is also a testament to the brute American dominance, as 8 of the 10 companies on the list of the most valuable companies are from the USA.
Apple falls behind
For Apple, although premature, it is also a story of its decline, the California-based company has had a tumultuous 2024, with its myriad litigations in major jurisdictions, including Europe and the US, and the fines from the European Union.
This, paired with the drop in the sale of its most priced asset, the iPhone, has put the company in a not-so-rosy state.
For Nvidia, a company that dominated the gaming market with its GPU, it has added another ace up its sleeve with its venture into making sophisticated, high-powered cutting-edge systems for AI system operations.
The Blackwell B200 GPU from the company is said to be one of its most powerful chips. The company is reported to be working on expediting the process of making its Blackwell Ultra chip before 2025. Its rivals, Intel and AMD, recently launched their own set of advanced set of chips in the cut-throat market.
Nvidia shares zoom
The AI-boom has only sustained its expansion, with either more companies jumping in or the existing players pouring in more money into development of better more improved systems.
Nvidia shares also zoomed, and ended on a high, at the end of the day’s trade on Wednesday, June 6. The company closed for the day’s trade with a significant 5.16 percent jump, taking its value to USD 1,224.40. This is no exception, as just in the past one month alone, the price has hopped a massive 32.88 percent, taking the value of its individual shares beyond USD 1,000, just in the past 10 days.
(The article is published under a mutual content partnership arrangement between The Free Press Journal and Connected to India)