Nvidia Becomes the World’s Most Valuable Company, Surpassing Microsoft and Apple with a Market Cap of $3.34 Trillion
Nvidia Becomes the World’s Most Valuable Company, Market Cap Reaches $3.34 Trillion, Surpassing Microsoft and Apple!
Six months ago, no one thought Nvidia would become the world’s most valuable company. On June 18, its market cap reached $3.34 trillion. Since January, its shares have jumped by 181%.
On January 2, 2024, the share price was $48, and by June 18, it rose to $135.58. This means anyone who invested on January 2, 2024, saw their money more than double. For such a big company, this kind of growth is impressive. It shows the company is strong and has a business worth investing in.
Nvidia outpaced everyone in the market cap race. It first surpassed Facebook’s parent company Meta, then Amazon, and then Google’s parent company Alphabet. No one thought it would surpass Apple and Microsoft, but on June 18, it did. In just one month, the share price surged about 45%. On June 18, Nvidia and its founder Jensen Huang made history.
About Nvidia and its founder
Jensen Huang founded Nvidia in 1993. He built the company but owns only 3.5% of it. His net worth is around $64 billion today.
Initially, the company made video game graphics chips, but later it decided to make AI-based chips and invested heavily in research and development. Nvidia spent about $10 billion on R&D before launching its first AI-based chip, and today it is the largest AI chip maker in the world. Nvidia’s chips are used in crypto mining and cloud computing. Companies like Amazon, Microsoft, and Google use Nvidia’s chips for their cloud operations.
