American Nvidia Becomes Most Valuable Company in the World
Nvidia, a leading company in artificial intelligence technologies, has nearly tripled its market value since the beginning of the year, reaching $3.335 trillion and surpassing both Apple and Microsoft.
The California-based manufacturer of video cards, chips, and other AI-based equipment saw its share price rise by 3.5 percent to $135.58 on Tuesday, June 19, making it the most valuable company globally.
Microsoft and Apple are now in second and third places. Microsoft’s market capitalization decreased by 0.45 percent to $3.317 trillion, while Apple’s dropped by more than 1 percent to $3.286 trillion.
Reuters reports that Nvidia’s shares have almost tripled in value since the start of 2024, reflecting Wall Street’s strong optimism about new AI technologies. However, this enthusiasm may decline if there are signs of reduced spending on these technologies.
Additionally, Nvidia has become the most traded company on Wall Street, with a daily turnover of about $50 billion. In comparison, the daily turnover for Apple, Microsoft, and Tesla averages about $10 billion, according to Reuters.
