Nvidia Surpasses Microsoft and Apple to Become World’s Most Valuable Public Company
In a stunning turn of events, Nvidia has emerged as the new king of the stock market, surpassing tech giants Microsoft and Apple to become the world’s most valuable public company. According to data from S&P Global, Nvidia’s market valuation soared to $3.34 trillion on Tuesday, propelled by the booming demand for its graphics processing units (GPUs) and the rise of generative artificial intelligence.
Just two years ago, Nvidia’s market valuation was a mere $400 million. However, in the span of a year, it has skyrocketed to over $3 trillion, making it one of the fastest ascents in market history. The company’s CEO, Jensen Huang, made a bold bet on the importance of GPUs in building artificial intelligence, a move that has paid off handsomely.
Nvidia’s dominance in the market for chips used in AI systems is unparalleled, with the company controlling over 80% of the market. Its rapid growth has made Mr. Huang a celebrity in the tech world, with attendees at a recent conference in Taiwan clamoring for his autograph.
The company’s rise is reminiscent of dot-com era titans like Cisco and Juniper Networks, which saw explosive growth in the early days of the internet. Nvidia’s investors are betting on its potential rather than its current profits, with the company projecting a doubling of sales in the current quarter.
While competitors like Microsoft, Meta, Google, and Amazon have developed their own AI chips, Mr. Huang remains confident in Nvidia’s position as a leader in the industry. He believes that the company’s decade head start and large community of AI programmers give it a significant advantage over its rivals.
As Nvidia continues to push the boundaries of what computers can do, it seems that the company’s reign as the world’s most valuable public company is just beginning. With the next industrial revolution underway, Nvidia is poised to shape the future of computing for years to come.
