NVIDIA Founder, President and CEO Jensen Huang speaks about the future of artificial intelligence and its impact on energy consumption and production at the Bipartisan Policy Center in Washington, DC, on September 27, 2024.
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Nvidia passed apple Its market capitalization on Tuesday made it the world’s most valuable publicly traded company for the second time.
Nvidia rose nearly 3% to close with a market capitalization of $3.43 trillion, surpassing Apple’s $3.4 trillion. Nvidia’s stock price demonstrates investors’ continued confidence in the company’s ability to maintain its rapid growth rate driven by graphics processing units (GPUs) and its leadership position in the artificial intelligence market, with NVIDIA’s stock price has nearly tripled.
Apple’s stock price is up about 17% this year, but many analysts believe the company’s sales will increase thanks to the recently released Apple Intelligence suite for iPhone, and that the company will benefit from “edge AI” that is less GPU-reliant. has the potential to take a leading position. base server.
Nvidia is a leading supplier of GPUs used to develop and deploy advanced AI software such as OpenAI’s ChatGPT. The company’s stock price has risen more than 2,700% over the past five years, and its revenue has more than doubled in each of the past five quarters, and tripled in three of those quarters.
Apple became the first company to reach $1 trillion and $2 trillion in market capitalization. Nvidia previously overtook Apple in June, then slipped down the rankings over the summer. microsoftIt ranks No. 3 with a market capitalization of nearly $3.1 trillion, is a major customer for Nvidia GPUs, and is fueling its partnership with OpenAI and its own AI ambitions.
Founded in 1991 to make chips for playing 3D games, Nvidia has grown in recent years for entirely different reasons. Over the past decade, scientists and researchers have discovered that the same Nvidia chip designs that can render polygons and computer graphics are ideal for the parallelism needed for AI. Nvidia has since developed AI-specific software and more powerful chips.
Last week, Apple reported that its revenue rose 6% in the most recent quarter, but suggested that growth this year was weaker than analysts expected. Nvidia is scheduled to report results on November 20th.
S&P Dow Jones announced last week that Nvidia would join the Dow Jones Industrial Average on Friday, replacing its longtime rival. inteland joined Apple’s blue-chip stock index.
