Nvidia overtakes Microsoft as the world's most valuable company, driven by surging demand for its AI chips. Stock surge lifts market cap to $3.3 trillion.
In a groundbreaking shift, Nvidia, the graphics card-making firm, has dethroned Microsoft to become the world's most valuable publicly traded company. This seismic event underscores the soaring demand for Nvidia's cutting-edge chips, which have become the driving force behind the explosive growth of artificial intelligence (AI) applications.
On Tuesday, Nvidia's stock value surged by an impressive 3.5 percent, reaching $135.58 per share and propelling the company's market capitalization to an unprecedented $3.3 trillion. This remarkable feat eclipses Microsoft's long-standing dominance, signaling a tectonic shift in the technology landscape.
At the heart of Nvidia's meteoric rise lies its dominance in producing highly coveted chips that power data centers running complex computing tasks essential for AI applications. As AI continues to disrupt and transform virtually every industry, from healthcare and finance to automotive and consumer technology, Nvidia's chips have become indispensable, fueling the insatiable demand for advanced AI capabilities.
While Nvidia basks in its newfound status, Microsoft is also positioned as an early AI winner, thanks to its substantial investment and strategic partnership with OpenAI, the company behind the groundbreaking ChatGPT language model. This collaboration underscores Microsoft's commitment to staying at the forefront of the AI revolution.
Nvidia's surging success has also had a profound impact on the personal wealth of its co-founder and CEO, Jensen Huang. His net worth has skyrocketed by an astounding $70 billion since the beginning of the year, catapulting him to the 12th position on the Bloomberg Billionaires Index with a staggering $115 billion fortune – the highest gain among his billionaire peers.
As the AI landscape continues to evolve at a breakneck pace, Nvidia's ascension to the throne of the world's most valuable company is a testament to the transformative power of cutting-edge technology and the insatiable demand for innovation.
