Nvidia Surpasses Apple in Market Value, Takes Second Spot

Business | June 6, 2024, Thursday // 09:52
Bulgaria: Nvidia Surpasses Apple in Market Value, Takes Second Spot

CBS News reported that Nvidia surpassed Apple in market capitalization on Wednesday, securing the second position behind Microsoft. This shift reflects investors' confidence in the chipmaker's role in driving the artificial intelligence revolution.

Nvidia's market capitalization reached 3 trillion USD as its stock surged over 5%. At the close of the market, Nvidia was valued at 3.019 trillion USD, slightly edging out Apple, which stood at 2.99 trillion USD. However, Microsoft remains the leader with a market capitalization of 3.15 trillion USD.

Since reporting its first-quarter earnings in May, Nvidia's shares have surged by more than 24%. The company's dominance in data center AI chips, boasting an approximately 80% market share, has attracted significant investments from major cloud providers, contributing to its rapid growth.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: nvidia, Apple, market

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria