Nvidia Overtakes Microsoft To Become World’s Most Valuable Company
19 Junho 2024 - 6:32AM
IH Market News
Nvidia’s (NASDAQ:NVDA) share price climbed to an all-time high
on Tuesday, boosting its value to make it the world’s highest
valued company.
The company’s stock price finished the trading day at almost
$136, a rise of 3.5%, which means the company is now valued at
$3.34 trillion. The price has nearly doubled since the start of
this year.
Yesterday’s rise makes Nvidia more valuable than Microsoft. It
overtook Apple earlier this month.
Eight years ago the stock was worth less than 1% of its current
price.
Demand for the company’s computer chips has been boosted by the
rise of artificial intelligence (AI) software, and this has
increased its profits. Investors believe its earnings have
potential to grow even further, and that has pushed the share price
to its new heights.
In May, after its latest set of financial results were
published, Quilter Cheviot technology analyst Ben Barringer said
the company had “once again cleared a very high hurdle.”
He added, “Demand is showing no signs of switching off
either.”
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