Nvidia has become the world’s second most valuable company, surpassing Apple’s market value by reaching over the USD 3 trillion mark.
Nvidia’s stock closed 5.2% higher at USD 1,224.40 per share, pushing its market cap to USD 3.012 trillion, while Apple’s market cap reached USD 3.003 trillion with a 0.8% increase. Microsoft stayed at the top with a market cap of USD 3.15 trillion after a 1.9% increase.
Nvidia’s primary AI chip, H100, has contributed to its growth in the market capitalization. In May 2023, Nvidia reached a market cap of USD 1 trillion, and by February of the subsequent year, it exceeded USD 2 trillion, surpassing the market values of both Amazon and Alphabet.
The company plans to release a new AI chip every year, starting with the Blackwell B200 GPU expected later this year.
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