Nvidia is now more valuable than Apple

Nvidia has become the second most valuable company in the world, with a market capitalization of $3.01 trillion, just ahead of Apple’s $3 trillion. Nvidia’s dominance in the AI sector with its H100 chip has driven its rapid growth. The company reported $14 billion in profit in May and surpassed $2 trillion in February 2024, outpacing Amazon and Alphabet. Now only trailing Microsoft ($3.15 trillion), Nvidia’s stock sits at over $1,220 per share, with a planned split on June 7th. Nvidia’s AI accelerators hold 70-95% of the AI chip market, and it plans to release a new AI chip annually, starting with the Blackwell B200 GPU later this year.

Read more – https://www.theverge.com/2024/6/5/24172363/nvidia-apple-market-cap-valuation-trillion-ai

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