Nvidia could be about to knock Apple off the top spot for most valuable company
Nvidia is currently worth over $3 trillion
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Shares ofNvidiahave surged to a record high once more, closing at $138.07 on Monday, leading it well on its way to becoming the world’s most valuable company again.
PerCNBC, Nvidia had recently dropped a couple of places behind long-time leadersAppleandMicrosoftafter a very brief period in pole position. However the chipmaker has now overtaken Microsoft once more and set its sights on top spot.
With a market cap of $3.386 trillion, Nvidia is one of only three companies to have surpassed a three-trillion-dollar valuation.
Nvidia set to be most valuable company… again
Nvidia’s early entry into theartificial intelligence(AI) chip market has allowed it to become a dominant player in the ongoing AI race, with major tech companies and market cap rivals such as Microsoft,Google, Meta andAmazonpurchasing its processors to support their expanding AI infrastructure.
Nvidia shares are up 186.6% in 2024 to date, and up a staggering 2,800.6% over five years. Much of Nvidia’s success must be credited to the public preview launch ofChatGPTin November 2022, which fueled widespread interest and adoption of the technology.
In the space of twelve months, Nvidia has more than doubled its quarterly revenue to the sum of $30 billion thanks to its 95% share in the AI chips market. However, this is a long reach from Apple’s most recent quarterly revenue of $85.8 billion.
Furthermore, Nvidia’s upcoming Blackwell chips could further boost revenue as companies look to acquire more powerful components to futureproof their infrastructure, which analysts predict could reach nearly $33 billion this quarter. If true, it would mark a considerable 82% year-over-year increase.
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However, despite off-the-scale figures, some investors remain cautious that optimism surrounding AI could fade, leaving Nvidia with little to hang on to.
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With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!
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