Nvidia on verge of overtaking Apple as No. 2 most valuable company

Shares of Nvidia rallied to record highs on Wednesday, with the AI chipmaker's stock market valuation on the verge of hitting the $3 trillion mark and overtaking Apple to become the world's second most valuable company.

The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors. Nvidia's stock has surged 145 per cent so far in 2024, with demand for its top-of-the-line processors far outstripping supply as Microsoft, Meta Platforms and Google-owner Alphabet race to build out their AI computing capabilities and dominate the emerging technology.

The Silicon Valley chipmaker's stock was last up 4.2 per cent at $1,212.89, giving Nvidia a stock market value of $2.98 trillion.Microsoft remained the world's most valuable company, with a market value of $3.14 trillion as its shares climbed 1.6 per cent. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Nvidia set to overtake Apple as world's second-most valuable companyNvidia could soon surpass Apple to become the world's second-most valuable company, as the biggest beneficiary of the surge in adoption of AI applications takes on the iPhone maker that has been the largest Wall Street firm by market value for years.
Source: asiaonecom - 🏆 10. / 59 Read more »

Nvidia earnings could spark $200 billion swing in shares, options showNEW YORK : Traders are pricing in a big move for Nvidia’s shares after the chipmaker reports earnings on Wednesday, though expectations for volatility are more muted than in the past, U.S. options markets show. Nvidia's options are primed for an 8.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »