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‘Riding the AI wave’: Nvidia surpasses Microsoft to become world’s most valuable company

Nvidia news

Nvidia has become the world’s most valuable company with a market worth of $3.34 trillion, following a share price surge to an all-time high.

The stock rose by 3.5% to nearly $136, making Nvidia more valuable than Microsoft and surpassing Apple earlier this month.

Commentators have attributed the remarkable rise to Nvidia’s leading position in the production of chips crucial for artificial intelligence, which analysts refer to as the “new gold or oil in the tech sector.”

Chris Penrose, Nvidia’s global head of business development for telecommunications, acknowledged this achievement as a result of over 30 years of work in AI, predicting further growth as the generative AI sector continues to expand.

Analysts from Wedbush Securities anticipate a fierce competition for the $4 trillion market cap among Nvidia, Apple, and Microsoft in the coming year.

Despite some skepticism about future gains due to increasing competition, Nvidia’s growth remains impressive.

Eight years ago, its stock was valued at less than 1% of its current price.

Initially known for its graphics cards competing with AMD, Nvidia’s prominence has surged with the rising demand for AI chips, particularly those powering generative AI models like OpenAI’s ChatGPT.

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1 COMMENT

  1. ‘Nvidia CEO Jensen Huang has proposed a groundbreaking idea for the future of AI: using English as the universal coding language. This visionary concept aims to democratize AI development by making it more accessible to a broader audience. Unlike conventional programming languages, English is intuitive and familiar to many, lowering barriers to entry and encouraging participation from diverse backgrounds’.https://www.linkedin.com/pulse/nvidia-ceos-vision-english-universal-coding-language-age-mishra-zcuyc/
    Cries of racism anyone?

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