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
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