Last night, NVIDIA’s stock price surged by 3.51% following the US stock market closing. The stock is now priced at $135.58 per share, with a Market Cap of $3.335 trillion.
This significant increase in Market Cap has positioned NVIDIA as the world’s most valuable company for the first time, surpassing both Microsoft and Apple. Both Microsoft and Apple saw declines in their stock prices yesterday, with Market Caps of $3.317 trillion and $3.286 trillion respectively.
Since 2019, only Microsoft and Apple have alternated as the world’s most valuable company. NVIDIA now joins them in this coveted position, thanks to key factors such as the rising demand for AI chips driving NVIDIA’s processing capabilities.
In May last year, NVIDIA’s Market Cap crossed $1 trillion, then $2 trillion in March, and now surpasses $3 trillion in June, outpacing both Microsoft and Apple.
TLDR: NVIDIA’s stock price surged last night, making it the world’s most valuable company for the first time, surpassing Microsoft and Apple. This milestone is attributed to the increasing demand for AI chips and NVIDIA’s processing capabilities.
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