Nvidia Becomes the World’s Most Valuable Publicly Traded Company
Nvidia, a leading player in graphics processing and AI, supplies around 80% of the AI chips used in advanced data centers. The company has recently overtaken Microsoft and Apple to become the world’s most valuable publicly listed company.
With a market capitalization of $3.34 trillion, Nvidia edges out Microsoft, valued at $3.32 trillion, and Apple, at $3.29 trillion. Nvidia’s shares are trading at approximately $135, following a 10-for-1 stock split in June. Before the split, shares were around $1,200 each. The stock split aimed to position Nvidia favorably for inclusion in the Dow Jones Industrial Average, which prefers companies with lower share prices to maintain index balance.
Nvidia was established in 1991 as a gaming company focused on creating graphics cards for high-performance video games. Over the years, it has shifted its focus to pioneering technologies for the artificial intelligence era. The company saw a surge in demand for its graphics processors during the GPU-mining boom in cryptocurrencies, which started around 2010 and declined with the advent of application-specific integrated circuits (ASICs) for cryptocurrency mining.
Nvidia’s advanced graphics processors have become essential for major industry players like OpenAI, Google, Amazon, and Microsoft as they develop their AI systems and infrastructure. The company reported robust Q1 results, with $26 billion in revenue, including $22.6 billion from its data center business.
Nvidia’s founder and CEO, Jensen Huang, announced that the company plans to release new AI chipsets annually, marking what he described as a modern industrial revolution with widespread economic impact. This is a shift from Nvidia’s previous strategy of launching new high-end microprocessors every two years, with Ampere in 2020, Hopper in 2022, and Blackwell in 2024.
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