YGN 96.1 MDY 96.5 NPT 96.7

Back to News

Tech June 7, 2024

Nvidia overtakes Apple as world’s second-most valuable company

Nvidia’s stock surged to record highs on Wednesday, pushing the AI chipmaker’s valuation past $3 trillion and surpassing Apple to become the world’s second-most valuable company. Nvidia’s stock rose by 5.2% to close at $1,224.40, reaching a market capitalization of $3.012 trillion, while Apple’s valuation was $3.003 trillion following a 0.8% increase in its stock price. Microsoft retained its position as the world’s most valuable company at $3.15 trillion after a 1.9% rise in its shares.

Nvidia plans to implement a ten-for-one stock split on June 7, aimed at making its shares more accessible to individual investors. The company’s rapid growth is fueled by strong demand for its AI processors, which are essential for tech giants like Microsoft, Meta, and Alphabet as they expand their AI capabilities. This year alone, Nvidia’s stock has surged by 147%, driven by the high demand for its products in the AI sector.

Source – CGTN

Our Podcast Avaliable On

You can listen to the programs organized by MI Radio on Google Podcast, Apple Podcast and Spotify.

Download Our App On

You can download MI Radio application on Google Play Store and Apple App Store.