News Formal

Nvidia eclipses Microsoft as world’s most valuable company

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 43 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 86%

Tech Companies News

Technology,Business,Editors' Pick

While Nvidia's rally lifts the S&P 500 and Nasdaq to record highs, some investors worry unbridled optimism about AI could evaporate if signs emerge of a slowdown in spending on the technology

This is AI generated summarization, which may have errors. For context, always refer to the full article.

Shares of the chipmaker climbed 3.5% to $135.58, lifting its market capitalization to $3.335 trillion, just days after overtaking iPhone maker Apple to become the second most valuable company.Apple’s stock slipped over 1%, leaving its value at $3.286 trillion. “It’s Nvidia’s market; we’re all just trading in it,” said Steve Sosnick, chief market strategist at Interactive Brokers.

Tech giants Microsoft, Meta Platforms, and Google-owner Alphabet are competing to build out their AI computing capabilities and add the technology to their products and services. Tuesday’s gain lifted Nvidia’s stock to a record high and added over $110 billion to its market capitalization, equivalent to the entire value of Lockheed Martin.

Nvidia executives said in May that demand for its Blackwell AI chips could exceed supply “well into next year.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Nvidia eclipses Microsoft as world's most valuable companyLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Source: gmanews - 🏆 11. / 68 Read more »