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The semiconductor giant Nvidia, which is leading the artificial intelligence revolution, has surpassed Microsoft to become the most valuable business in the world, marking a significant milestone in the computer industry. Tuesday saw a 3.5% increase in Nvidia's stock price to $135.58 a share, causing its market capitalization to rise to a historic $3.335 trillion.
This accomplishment occurs only a few days after the Santa Clara, California-based business surpassed Apple to take the second spot in the world's most valuable companies ranking. In contrast, the stocks of Apple, which currently holds the third position, and Microsoft plummeted by 1.1 percent and 0.45 percent, respectively.
Nvidia officially most valuable company in the world pic.twitter.com/OmZvz3qw0D
— Trung Phan (@TrungTPhan) June 18, 2024
The S&P 500 and Nasdaq indices have risen sharply as a result of Nvidia's explosive growth, extending the company's incredible winning run. Due to the importance of Nvidia's graphics processing units (GPUs) in the advancement of artificial intelligence, the company's stock price has increased by around 182 percent this year alone, after more than tripling in 2023.
About 80% of the market for AI chips, which are necessary for data centers to run AI models like OpenAI's ChatGPT, is controlled by the company. From its 1999 stock market debut to its current standing, Nvidia has had nothing short of an incredible career. Its shares have increased by an incredible 591,078 percent since then. To put this into perspective, the value of the stock held by an individual who invested $10,000 in Nvidia in 1999 is currently $59,107,800.
Nvidia, $NVDA, is now up 591,078% since it went public.
— The Kobeissi Letter (@KobeissiLetter) June 18, 2024
$10,000 invested in 1999 is worth $59,107,800 today.
Yes, you read that correctly. pic.twitter.com/8iaHwi6yOj
Nvidia initially concentrated on creating semiconductors for video games during the course of its first several decades of existence. That being said, the company deliberately refocused on GPU development for non-gaming applications in the 2000s, led by CEO Jensen Huang. Nvidia was well-positioned to benefit from the quick development and emergence of AI technology thanks to this action.
With a projected net worth of more than $117 billion, Huang is among the richest people in the world thanks to his strategic pivot and visionary leadership, which have paid off handsomely for the company. Nvidia is now the most valuable corporation in the world.
$NVDA NVIDIA just became #1.
— App Economy Insights (@EconomyApp) June 18, 2024
It's Jensen Huang's world, and we're just living in it. pic.twitter.com/qViRcItlw6
One of the main factors driving Nvidia's stock price increase has been the demand for its chips from major tech companies like Microsoft, Meta, and Google. The company's state-of-the-art technology and market leadership in AI chips have cemented its position as a major player in the IT sector, guaranteeing its sustained expansion and impact in the years to come.
The path taken by Nvidia, which is still shattering records and setting new standards, is proof of the revolutionary force of visionary leadership and strategic innovation in the IT sector.
