New York, June 18, 2024, The Europe Today: Nvidia, the leading chipmaker, has ascended to the top of the global market capitalization rankings, becoming the world’s most valuable company on Tuesday. The company’s shares surged by 3.5% to $135.58 (€126.25), bringing Nvidia’s total market capitalization to an astounding $3.335 trillion.
This achievement allows Nvidia to surpass Microsoft, marking a rapid ascent over the past five years. The significant rise in market value is largely attributed to the burgeoning fields of artificial intelligence (AI) and machine learning, areas in which Nvidia’s processors play a crucial role.
In July 2019, Nvidia’s stock was valued at under $4 per share, showcasing an increase of more than 30 times since then. Nvidia shares have also become the most actively traded, representing about 16% of all trading activity this year among the 500 largest publicly listed companies in the United States.
Historically, the title of the world’s most valuable company has been dominated by technology giants. Before Nvidia, Microsoft held the top position, with Apple and Alphabet (Google’s parent company) also having been contenders in recent years. U.S.-based companies continue to dominate the upper echelons of the market capitalization rankings.
Currently, Apple ranks third, followed by Saudi oil giant Saudi Aramco in fourth place. Alphabet (Google), Amazon, Meta (which owns Facebook, Instagram, and WhatsApp), and Tesla also feature prominently among the world’s most valuable companies.
Nvidia’s remarkable rise underscores the growing importance and value of semiconductor technology in the era of AI and advanced computing, solidifying its status as a pivotal player in the global technology landscape.
