On Tuesday June 18, 2024, American company known as Nvidia rose to became the most valuable company globally, even surpassing Microsoft and others global business outfits.
This came after the company’s share price rose to all-time high on Tuesday. Their stock ended the trading for the day nearly at about $136, up 3.5%, therefore, making the company more valuable than Microsoft. Meanwhile, earlier this month of June, it overtook Apple.
Their Success Story:
Nvidia is best known for making computer chips, used for artificial intelligence software. So, the demand for its products has skyrocketed in recent years. And now, it has continued to attract a lot of positivity to the company as even many investors now see future in the company, on the ground that their earnings has a great potential of rising far higher.
(Current CEO of Nvidia, Jensen Huang. He’s been the CEO since April 1993 till date)
About eight years ago, the stock worth of the company was actually worth less than 1% of its current price of $3.34tn (£2.63tn). With the world faced with the high demand for AI products, there’s a fierce competition among AI developers, with heavyweights like Microsoft, Google-owner Alphabet, Meta, Apple, others battling to be in the front line.
With the stiff competition, Nvidia seems to be the most benefiting of all, as they dominate majority of the AI products market, precisely the AI chop market. Their sales and profits have actually gone beyond expectations from reputable Tech analysts in recent times.