For a long time, Microsoft has held the position of the most valuable company in the world. It’s worth was much higher than the GDP of many countries. Now another tech company has eclipsed over Microsoft to hold the top position. Nvidia has become the most valuable company in the world. Nvidia now has a market value of $3.34 trillion.
Nvidia has had a great run in the stock market and its shares have seen a rise for a long time this year. The price of the stock has doubled from the start of this year. It is now valued at $136 after a rise of 3.5 percent.
With the growing demand for AI, the company is likely to grow further. Nvidia makes computer chips and these are also needed for Artificial intelligence hence there’s an increase in demand for them.
The growing competition between AI companies is helping Nvidia as it is one of the major suppliers for most of them. This has given confidence to the investors who believe the stock is going to go further up.
The $3.34 trillion evaluation is way bigger than the GDP of many countries. To get a better understanding, it is bigger than the combined share market of all of Germany.
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