Nvidia surpasses Microsoft to become the largest public company in the world

Nvidia’s market capitalization closed at roughly $3.34 trillion on Tuesday, edging past Microsoft’s $3.32 trillion value. Apple is the third most valuable company in the US with a $3.27 trillion market cap. Nvidia shares closed 3.5% higher on Tuesday. Microsoft shares fell 0.5% and Apple shares lost 1.1%. Nvidia earlier this month joined the tech giants in becoming the only US companies to cross a $3 trillion market cap. The chipmaker’s stock has been on a tear for the last year and a half.

Nvidia is the leader of the tech behemoth Magnificent Seven stocks that have driven much of the stock market’s returns since the artificial intelligence frenzy overtook Wall Street last year. The company’s stock is up roughly 174% for the year and was the S&P 500 index’s best performer in 2023. The Jensen Huang-led company’s dethroning of Microsoft comes as Wall Street’s most prominent tech companies battle for the coveted top spot.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AI chipmaker Nvidia surpasses Apple, Microsoft to become world's most valuable companyThe latest uptick pushed Nvidia’s market cap to a whopping $3.33 trillion. Microsoft fell to second place with a valuation of $3.32 trillion, followed by Apple at $3.28 trillion.
Source: nypost - 🏆 91. / 67 Read more »

Nvidia overtakes Microsoft as the world’s most valuable companyNvidia’s market cap closed on June 18th at $3.335 trillion, riding an AI boom powered by the company’s GPUs pushing it past Apple, Google, and Microsoft.
Source: verge - 🏆 94. / 67 Read more »

Nvidia eclipses Microsoft as world's most valuable companyNvidia eclipses Microsoft as world's most valuable company
Source: Investingcom - 🏆 450. / 53 Read more »

Nvidia pushes out Apple, Microsoft to become world’s most valuable companyThe computer chipmaker’s stock market value rose to $3.3 trillion, surpassing Apple and Microsoft.
Source: washingtonpost - 🏆 95. / 72 Read more »

Nvidia topples Microsoft as world's most valuable companyShares of Nvidia are showing no signs of cooling off as investors double down on the chipmaker's dominance in leading the artificial intelligence race.
Source: FoxBusiness - 🏆 458. / 53 Read more »