Nvidia is now the world’s most valuable company, surpassing Apple-Microsoft. The US-based chipmaker became the world’s most valuable company when its share price hit an all-time high on Tuesday (June 18).
Earlier this month, Nvidia surpassed Apple in terms of market value. Its share price rose 3.5 percent to $136 on Tuesday. As a result, they became a more expensive company than the tech giant Microsoft.
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Currently, Nvidia’s market value is $334 billion, which is almost twice as much as it was at the beginning of this year. Their rival Microsoft’s current market value is $3.32 billion and Apple’s market value is $3.29 billion.
The use of artificial intelligence or AI has increased tremendously in recent times. Analysts called the chips used in such devices ‘the new gold or oil of the technology sector’. Increasing demand for such chips is believed to be driving up Nvidia’s share price.
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Chris Penrose, Nvidia’s global head of telecommunications business development, predicts further growth in this sector. recently
Speaking at an event in Copenhagen, he said the generative AI journey is truly transforming business and telecommunications around the world. We are in the early stages of this.
Source: BBC
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