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Nvidia Surpasses Microsoft, Becomes World’s Most Valuable Company

Nathaniel Irobi by Nathaniel Irobi
June 18, 2024
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Nvidia Surpasses Microsoft, Becomes World’s Most Valuable Company
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Nvidia, the leading provider of computer chips for artificial intelligence (AI) software, has claimed the title of the world’s most valuable company.

Elanza News reports that the company’s share price reached an all-time high on Tuesday, closing at nearly $136, a 3.5% increase.
This surge in stock value propelled Nvidia ahead of Microsoft, which it had already surpassed earlier this month, and even Apple.

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The rising demand for Nvidia’s products, essential for AI development, has driven its sales and profits to new heights in recent years.
Investors are optimistic that the company’s earnings will continue to grow, contributing to its soaring share price.
As a result, the market now values Nvidia at a staggering $3.34tn (£2.63tn), almost double its value at the beginning of this year.
To put this into perspective, just eight years ago, the stock was worth less than 1% of its current price.

The competition among AI developers, including industry giants like Microsoft, Google-owner Alphabet, Meta, and Apple, is fierce.
However, Nvidia has managed to establish its dominance in the AI chip market, giving it a significant advantage. With this market position, investors foresee continued growth and value appreciation for the company.
Nvidia’s sales and profit figures consistently surpass analyst expectations, further fueling optimism.
Following the release of Nvidia’s latest financial results in May, technology analyst Ben Barringer from Quilter Cheviot praised the company’s performance, stating that it had once again surpassed a very high hurdle.
Barringer also noted that the demand for Nvidia’s products shows no signs of slowing down. However, there are some skeptics who urge caution.

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Elanza News reports that in February, Barclays credit analyst Sandeep Gupta raised concerns about Nvidia’s ability to maintain its large market share in the face of increasing competition from rivals.
Additionally, Gupta questioned how Nvidia’s customers would monetize AI software, highlighting potential challenges and uncertainties moving forward.

Despite these cautious voices, Nvidia’s impressive market position and consistent performance have solidified its status as the world’s most valuable company.
With the increasing reliance on AI technology and the company’s dominant position in the AI chip market, Nvidia seems poised to continue its upward trajectory.

Tags: Nvidia
Nathaniel Irobi

Nathaniel Irobi

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