Nvidia Becomes Most Valuable Company In World
Date
6/19/2024 1:10:25 AM
(MENAFN- UkrinForm) On Tuesday, shares of the American chipmaker Nvidia rose by 4% to about USD 3.3 trillion, and it became the most expensive company in the world, ahead of Microsoft Corp. and Apple Inc.
Bloomberg reports, according to Ukrinform.
The rapid growth of Nvidia's share price has made the company's co-founder and CEO Jensen Huang one of the richest people in the world. Since the beginning of the year, his fortune has increased by more than USD 70 billion to USD 115 billion, which has allowed him to rank 12th in the Bloomberg Billionaires Index.
Nvidia is considered to be the biggest beneficiary of AI technology, as it dominates the market with its chips, which are essential for AI applications. In particular, demand for the company's H100 accelerator is growing rapidly, which helped to increase its sales by more than 125% last year.
As reported, on 6 June, Nvidia reached a record value of its capital, exceeding USD 3 trillion and outperforming Apple.
Photo: Nvidia GTC
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