Following expectations that NVIDIA’s market value would surpass Apple’s market value in recent days, the company eventually became the second most valuable publicly traded company in the US, after Microsoft. The company rose to the position.
CNBCAccording to the news, NVIDIA’s market value is currently at the level of 3.019 trillion dollars, after the share price increased by 5.16 percent and reached 1,224.40 dollars. Apple’s market value is 2.99 trillion dollars. However, NVIDIA is still behind Microsoft, the largest publicly traded company in the USA, with $3.15 trillion.
The graphics chip maker’s stock price has increased significantly since it announced its latest quarterly financial figures on May 22. In its announcement, the company announced that it had generated $26 billion in revenue. This figure was well above the $7.19 billion revenue it generated. The company also announced that it anticipates generating $28 billion in revenue this quarter ending in late July.
NVIDIA’s success is driven by demand for AI GPUs that power AI data centers for Microsoft Copilot, OpenAI ChatGPT, and others.
