Nvidia Becomes World’s Second Most Valuable Company
Nvidia, a company that makes special computer chips for artificial intelligence (AI), has now become the second most valuable company in the world. It has overtaken Apple and is now worth $3.012 trillion.
Here’s what happened:
- Share Price Increase: Nvidia’s share price went up by 5.2% this week, making its total value $3.012 trillion.
- Surpassing Apple: This new value puts Nvidia above Apple, which is worth $3.003 trillion.
- Chasing Microsoft: Microsoft is still the most valuable company, worth $3.15 trillion.
Jake Dollarhide, who leads an investment firm, thinks Nvidia might even become more valuable than Microsoft soon. He explained that while Nvidia is making a lot of money from AI right now, companies like Apple and Meta (another big tech company) are still spending money to develop their AI.
Here’s a bit more about the big companies:
- Top Companies: Eight of the ten most valuable companies are in the United States. The other two are Saudi Aramco, an oil company, and the Taiwan Semiconductor Manufacturing Company.
- Nvidia’s Growth: Nvidia’s stock has gone up by 147% this year.
- CEO Jensen Huang: The CEO of Nvidia, Jensen Huang, who started the company in 1993, is originally from Taiwan. He has become very popular in Taiwan and was recently celebrated at a big tech event in Taipei. Even though he’s famous in Taiwan, he keeps a low profile in Silicon Valley where Nvidia’s headquarters are.
Nvidia’s rapid growth shows how important AI technology is becoming, and it looks like Nvidia will continue to play a big role in this exciting area.
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