A new rival has been added to the title of the world’s most valuable company, which continues between Apple and Microsoft. With the wind of artificial intelligence behind it, NVIDIA has become the most valuable company in recent hours. The company’s shares showed a historical rise and broke a record.
NVIDIA became the most valuable company in history for the first time
NVIDIA managed to become the world’s most valuable company by market value, leaving behind technology giant Microsoft. Company shares increased by 3.7 percent and traded at $135.87. Accordingly, NVIDIA’s market value was 3.34 trillion dollars.
This figure surpasses the $3.31 trillion market value of Microsoft, whose shares fell 0.5 percent on the day. Shares of Apple, which was previously the second most valuable company, fell by 1.2 percent to $3.28 trillion.
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NVIDIA’s rise to the top shows the importance of artificial intelligence technologies. The company, which sells artificial intelligence chips and accelerators to many technology companies, has seen a huge increase in its share prices this year. NVIDIA shares nearly tripled compared to Microsoft’s 20 percent gain.
The current list of the most valuable companies is as follows:
- NVIDIA
- Microsoft
- Apple
- Alphabet (Google)
- Saudi Arabian Oil
- Amazon
- Meta Platforms
- Berkshire Hathaway
- Taiwan Semiconductor Manufacturing (TSMC)
Technology giants use NVIDIA’s chips to improve artificial intelligence capabilities. Some investors think that the uncontrolled growth in artificial intelligence may create fluctuations in the market.