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Nvidia surpasses Apple to become world's most valuable company
Nvidia surpasses Apple to become world’s most valuable company
The AI darling now has a $3.43 trillion market capitalization.
By Hannah Ziegler
November 5, 2024 at 5:26 p.m. EST
Nvidia is now the world’s most valuable company, surpassing Apple in a tech shake-up that reflects the growing dominance of artificial intelligence.
Nvidia’s market capitalization rose nearly 3 percent Tuesday and closed at $3.43 trillion, ahead of Apple’s $3.4 trillion. Nvidia shares, which have nearly tripled so far in 2024, closed Tuesday at $139.91 before edging slightly lower in after-hours trading.
The company saw explosive growth in 2023 when it emerged as the primary source of the graphics processing units, or GPUs, used in the computers that power AI operations. The chipmaker’s revenue has doubled in each of the past five quarters.
Nvidia became just the third company to reach a $3 trillion market capitalization earlier this year, joining Apple and Microsoft. The AI darling briefly passed Apple to become the world’s most valuable company in June before sliding back into the No. 2 spot.
{snip}
By Hannah Ziegler
Hannah Ziegler is a business reporter for The Washington Post. follow on X hannahzziegler
The AI darling now has a $3.43 trillion market capitalization.
By Hannah Ziegler
November 5, 2024 at 5:26 p.m. EST
Nvidia is now the world’s most valuable company, surpassing Apple in a tech shake-up that reflects the growing dominance of artificial intelligence.
Nvidia’s market capitalization rose nearly 3 percent Tuesday and closed at $3.43 trillion, ahead of Apple’s $3.4 trillion. Nvidia shares, which have nearly tripled so far in 2024, closed Tuesday at $139.91 before edging slightly lower in after-hours trading.
The company saw explosive growth in 2023 when it emerged as the primary source of the graphics processing units, or GPUs, used in the computers that power AI operations. The chipmaker’s revenue has doubled in each of the past five quarters.
Nvidia became just the third company to reach a $3 trillion market capitalization earlier this year, joining Apple and Microsoft. The AI darling briefly passed Apple to become the world’s most valuable company in June before sliding back into the No. 2 spot.
{snip}
By Hannah Ziegler
Hannah Ziegler is a business reporter for The Washington Post. follow on X hannahzziegler