Nvidia Overtakes Microsoft To Become World’s Most Valuable Company
As Nvidia’s stock price continues to soar, the company has now overtaken Microsoft to become the No. 1 most valuable company on Earth in terms of market capitalization.
Nvidia’s $3.33 trillion in market cap is just ahead of Microsoft ($3.32 trillion) and Apple ($3.27 trillion). Google parent company Alphabet ($2.169 trillion) and Amazon ($1.90 trillion) round out the top five.
Part of what’s led to Nvidia’s recent success on the stock market is companies buying up its chips under the belief that artificial intelligence will play a major role in the future of the world’s economy. Nvidia’s stock price has climbed by more than 200% in the past year. The 3.2% increase in Nvidia’s share price so far today, June 18, added more than $100 billion to the company’s total market cap.