Nvidia now world’s most valuable company – topping Microsoft, Apple
Chip designer and artificial intelligence juggernaut Nvidia narrowly topped Microsoft’s market capitalization Tuesday to become the world’s most valuable public company, less than two weeks after it surpassed Apple’s market cap following months of strong stock gains.
BIG NUMBER
177%. That’s how much Nvidia’s market cap has spiked since the start of the year, when shares traded at $48.17 (adjusted for stock split).
FORBES VALUATION
We estimate Nvidia CEO Jensen Huang’s net worth at $118.8 billion, making him the 11th-richest person in the world—the highest ranking he’s secured on Forbes’ real-time billionaires list.
KEY BACKGROUND
Nvidia’s milestone comes amid an artificial intelligence craze that has made its chips and graphics processing units increasingly valuable to fellow tech companies like Microsoft, Meta, Amazon and Alphabet. Microsoft is estimated to make up 15% of Nvidia’s revenue, according to Bloomberg supply chain data, and Nvidia is estimated to control between 70% and 95% of the AI chip market, CNBC reported, citing Mizuho Securities. Nvidia, which reported $8.4 billion in net income in its 2023 fiscal year, shows little to no signs of slowing down, as analysts forecast its net income to surpass Apple’s in just four years.
Source: forbes.com
Trending News
Agona West MP Cynthia Mamle Morrison denies reports of rescinding independent candidacy
18:20Bawumia belittles NDC's manufactured 'Majority' in Parliament
12:12Bawumia campaign accuses Mahama of being out of touch with current affairs
09:47Bishop Salifu Amoako, wife, 1 other person charged with allowing 'unlicensed person to drive', granted bail
22:31EC to Finalise certified voter roll for Dec. 7 polls by November
18:55Dec. 7 polls: Vote NPP out NPP for ‘destroying Ghana’ – Ato Forson tells Mankessim residents
11:54Firewood & charcoal: The silent killer in our kitchens – Rev. Mireku
17:44You've disgraced me with your unwarranted attack on journalist – Salifu Amoako tells congregation
14:42PRINPAG launches Code of Ethics to strengthen journalism standards in Ghana
11:12Contact NDC comms team before publishing self-designed NDC ads, paraphernalia – NDC to sympathisers
20:20