Its been an incredible past 2 weeks for NVIDIA. We’re not just talking about their grand AI plans that founder Jensen Huang shared during COMPUTEX 2024, but the fact that NVIDIA overtook Apple and Microsoft to become the most valuable company in the world.
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As of June 19, the value of NVIDIA by market capitalization is at $3.34 trillion, which overtook Apple’s $3.29 trillion and Microsoft’s $3.32 trillion valuation. Both Alphabet–the parent company of Google–and Meta, the parent company of Facebook, are far behind with a valuation of $2.17 trillion and $1.90 trillion.
The meteoric rise of NVIDIA as the most valuable company is highly credited to the chips it makes for training and running generative AI models like OpenAI’s ChatGPT. Before this, NVIDIA also benefitted from the Bitcoin boom in 2020, where most of its RTX GPUs were used for mining the said cryptocurrency.
NVIDIA’s growth is not slowing down anytime soon with the recent announcement of its Blackwell GPU architecture aimed towards generative AI models. On top of that, NVIDIA has around 80% of the market for AI chips, and the demand for these chips is high as various tech companies are racing toward building their own AI models–and creating these models involves huge workloads.
