Microsoft has lost the top seat on the podium for the most valuable company in the world. It wasn’t its long-time rival, Apple, that overtook it NVIDIA, thanks to the explosion of the market for chips dedicated to artificial intelligence.
At the beginning of the month the GeForce company had overtaken the Cupertino house by taking second position in this ideal ranking of the richest in the world, but now it has also dethroned the Redmond house, after Tuesday’s stock market trading, which recorded a 3% increase in the value of its shares.
A huge leap
Over the course of the year, NVIDIA stock has grown by more than 170%, as already mentioned thanks to its leading position in the production of AI chips, a sector that has had a real boom in recent years. NVIDIA currently has 80% of this market in its hands, with a clear gap compared to competitors AMD and Intel.
At the close of the stock exchange, NVIDIA was worth 3,326 billion dollars, where in February it was worth around 2,000 billion.
Investing in the artificial intelligence market is, however, doing great good for multinationals in the tech sector, with also Microsoft which is doing excellent results thanks to its presence in OpenAI and its acceleration in the sector. Apple recently announced new features for its devices, but after falling behind its direct competitors, who were therefore able to overtake it.
According to market analysts, with Tuesday’s trading alone, NVIDIA shares gained 100 billion dollars in value, with growth that still shows no signs of stopping.
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