Nvidia Becomes World’s Most Valuable Company

Nvidia Corporation, a leader in AI computing and chip-making, has become the world’s most valuable company. Its share price reached an all-time high on Tuesday.

The company is now valued at $3.34 trillion (£2.63 trillion). Its stock price has nearly doubled since the beginning of the year. Nvidia’s stock closed the trading day at nearly $136, up 3.5%. This surpasses the value of fellow tech giant Microsoft. Earlier this month, it also overtook Apple.

[Image Creds: BBC]

The company’s rapid ascent is driven by its leading position in AI chip production. Analysts describe AI chips as the “new gold or oil in the tech sector.” In recent years, Nvidia has benefited from a surge in demand for AI chips. OpenAI’s ChatGPT is the most well-known example of this demand.

[Image Creds: The Telegraph]

At an event in Copenhagen, Chris Penrose predicted further growth in the sector. Penrose is Nvidia’s global head of business development for telecommunications. He said, “The generative AI journey is really transforming businesses and telcos around the world.” He added, “We’re just at the beginning.”

[Feature Image Creds: Financial Times]

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