- Nvidia passed Apple in market cap on Wednesday as investors continue betting on the chipmaker behind the artificial intelligence boom.
- Nvidia is now the second-most valuable public company, behind Microsoft.
- Nvidia also hit a $3 trillion market cap milestone on Wednesday after shares rose over 5%.
Nvidia
passed Apple
in market cap on Wednesday as investors continue betting on the chipmaker behind the artificial intelligence boom. It is now the second-most valuable public company, behind Microsoft.
Nvidia also hit a $3 trillion market cap milestone on Wednesday after shares rose over 5%. At market close, Nvidia had a market value of $3.019 trillion, versus Apple’s, which stood at $2.99 trillion. Microsoft is the most valuable publicly traded company, with a market cap of $3.15 trillion, as of Wednesday.
Nvidia shares have risen more than 24% since the company reported first-quarter earnings in May and have been on a tear since last year. The company has an estimated 80% market share in AI chips for data centers, which are attracting billions of dollars in spending from big cloud vendors.
www.cnbc.com/2024/06/05/nvidia-passes-apple-in-market-cap.html