📢Nvidia Becomes the Top Company by Market Cap, Surpassing Microsoft📊
Nvidia has overtaken Microsoft to become the world's most valuable company. Nvidia's market capitalization reached $3.34 trillion, surpassing Microsoft's $3.32 trillion, with Apple close behind at $3.27 trillion.
On Tuesday, Nvidia's stock increased by 3.5%, while Microsoft and Apple experienced slight decreases. Recently, Nvidia joined the exclusive club of US companies with market caps exceeding $3 trillion, largely due to its superior AI chips that power technologies such as OpenAI's ChatGPT.
As the frontrunner of the "Magnificent Seven" tech stocks, Nvidia's shares have surged 174% this year, positioning it as the best performer in the S&P 500 for 2023. Under the leadership of Jensen Huang, the company continues to significantly influence the stock market amid the AI surge.
Apple briefly regained the top position on June 13 after showcasing new AI features at its annual Worldwide Developers Conference but soon fell behind Microsoft once again.
Nvidia's 10-for-1 stock split on June 7, combined with an outstanding quarter marked by a 262% revenue increase and a 462% profit surge year-over-year, has cemented its leading status.
🔍Crypto Scouts news team
