Nvidia is now the most valuable company of the world

Nvidia has outperformed tech giants Apple and Microsoft to claim the title of the world’s most valuable company, thanks to a remarkable increase in its shares. Nvidia share price today. Nvidia’s shares rose by approximately 3.5% on Tuesday, propelling its market capitalization to roughly $3.34 trillion. This achievement has seen Nvidia surpass Microsoft and Apple, both of which were contending for the top spot in recent times. The exceptional growth in Nvidia’s market value can be attributed to the high demand for its AI-optimized chips. The company’s shares have surged by over 170% this year alone, marking an astonishing increase of about 1,100% since hitting a low point in October 2022. Rise of Nvidia share price. Nvidia’s market value skyrocketed from $2 trillion to $3 trillion in just 96 days, thanks to exceptional earnings and increasing investor enthusiasm for AI. In comparison, Microsoft and Apple took 945 days and 1,044 days, respectively, to achieve the same milestone, as reported by Bespoke Investment Group. According to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, only 11 US companies have held the top spot in market value on a closing basis since 1925. The fates of these companies have varied greatly, with Microsoft experiencing challenges post-dotcom bubble before rebounding strongly in recent years. Conversely, Exxon Mobil, once the most valuable company globally, faced share declines due to falling oil prices, while Cisco, a former leader. It peaked during the dotcom boom only to witness a subsequent plummet in its shares.