NVIDIA Is Now 25 Times As Valuable As Intel & Youngest Among Top 3 Most Valuable Firms
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With the AI boom on Wall Street showing no signs of stopping, chip designer NVIDIA Corporation has made history by becoming the most valuable company in the world. NVIDIA's closing market value today sat at $3.33 trillion, which was roughly $18 billion higher than the market cap of the previous most valuable company in the world, Microsoft, according to data from the NASDAQ exchange. Today's close marks the first time that NVIDIA has managed to eke past Microsoft, and over the course of this month, the firm has crossed and then dropped below Apple's market value several times.
NVIDIA Gains 3.5% In A Day To Soar Past Microsoft & Become World's Most Valuable Company
NVIDIA's rise to become the world's most valuable company follows a string of quarterly results that have seen the firm grow its revenue and profit by triple digit percentages. At the heart of its success are the firm's AI accelerators and GPUs, which have captured Wall Street and the industry's attention. Set up in the early 1990s, NVIDIA's history first saw it target consumers with its graphics card that were used to run and play video games.
Related Story NVIDIA Climbs To The Top, Now The Most Valuable Company On The Entire Planet With A Market Cap Exceeding $3.3 Trillion
However, over the course of time, the firm diversified its business model and developed products solely used to run and train artificial intelligence models. NVIDIA CEO Jensen Huang has been personally involved in delivering GPUs to Microsoft backed OpenAI for its ChatGPT and other AI products, and the firm also stands out from others by guiding its customers on how to use its products.
This has enabled NVIDIA's products to target a wide array of industries including high end computing, self driving, biotechnology and supercomputing, to name a few. While it has faced some turbulence in its history,
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