{"id":66761,"date":"2024-06-06T05:56:05","date_gmt":"2024-06-06T05:56:05","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/06\/nvidia-tops-3-trillion-in-market-value-leapfrogging-apple\/"},"modified":"2024-06-06T05:56:05","modified_gmt":"2024-06-06T05:56:05","slug":"nvidia-tops-3-trillion-in-market-value-leapfrogging-apple","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/06\/nvidia-tops-3-trillion-in-market-value-leapfrogging-apple\/","title":{"rendered":"Nvidia Tops $3 Trillion in Market Value, Leapfrogging Apple"},"content":{"rendered":"
\"Nvidia<\/div>


\n<\/p>\n

\n

Nvidia Corp.<\/a> was already the world’s most valuable semiconductor firm. Now, it’s become the first computer-chip company ever to hit $3 trillion in market capitalization.<\/p>\n

The shares of the Santa Clara, California-based firm have rallied roughly 147% this year, adding about $1.8 trillion as the insatiable demand for its chips used to power artificial intelligence tasks skyrockets. On Wednesday, shares rose 5.2% to close at a record $1,224.40, pushing the market value to more than $3 trillion and overtaking Apple Inc.<\/a> in the process.\u00a0<\/p>\n

The last time Nvidia was worth more than Apple was in 2002, five years before the first iPhone was released. At the time, both companies were worth less than $10 billion each.<\/p>\n

Nvidia has shown no signs of slowing down or letting its rivals catch up; the company’s Chief Executive Officer Jensen Huang\u00a0said<\/a>\u00a0the firm plans to upgrade its so-called AI accelerators every year. Wednesday’s stock gain increased his wealth by more than $5 billion to $107.4 billion, according to the Bloomberg Billionaires Index.\u00a0<\/p>\n

The rise of generative AI is a new industrial revolution and Nvidia expects to play a major role as the technology shifts to personal computers, Huang told attendees at a keynote address at National Taiwan University.<\/p>\n

\u201cWe see this sea change as in the very early innings,\u201d said Angelo Zino, senior equity analyst at CFRA Research.\u00a0<\/p>\n

After the CEO’s keynote, Zino said he likes \u201cthe improved visibility\u201d and sees \u201cgreater momentum on the GPU\/CPU\/networking side driving upside to consensus estimates.\u201d<\/p>\n

The company has been arguably the biggest beneficiary of a massive flood of AI spending, helping vault the company into a race to claim the title as the world’s most valuable company. The chipmaker still trails Microsoft Corp.<\/a> by market value, but with shares on a tear Wall Street sees it as only a matter of time before Nvidia overtakes it.\u00a0<\/p>\n

Apple has struggled this year with the technology giant’s shares pressured by concerns over cooling iPhone demand in China and a fine from the European Union. Shares in the company have only recently turned positive for 2024 as investor sentiment toward the iPhone maker is slowly improving.<\/p>\n

\u00a9 2024 Bloomberg L.P.<\/em><\/p>\n\n

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n

Affiliate links may be automatically generated – see our ethics statement<\/a> for details.<\/i><\/div>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nvidia Corp. was already the world’s most valuable semiconductor firm. Now, it’s become the first computer-chip company ever to hit $3 trillion in market capitalization. The shares of the Santa Clara, California-based firm have rallied roughly 147% this year, adding about $1.8 trillion as the insatiable demand for its chips used to power artificial intelligence […]<\/p>\n","protected":false},"author":2,"featured_media":66762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/i.gadgets360cdn.com\/large\/nvidia_reuters_1682491698706.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[1274,828,890,62924,1602,6168,62923,4983,924],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/66761"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=66761"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/66761\/revisions"}],"predecessor-version":[{"id":66763,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/66761\/revisions\/66763"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/66762"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=66761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=66761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=66761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}