valuable company in the market after its latest update, and the AI processor became the center of attention in the computer industry.
Nvidia shares grew by 3.5% to $135.58, resulting in a $3.335 trillion market capitalization. All of this happened only a few days after the chip maker took over Apple and was placed in second place for its company value. Even more so, for Nvidia to become the most valued company, Microsoft's stock market value dropped 0.45%, resulting in $3.317 trillion. As for Apple, its shares dropped by 1%, resulting in a valuation of $3.268 trillion.
In the last year, Nvidia has slowly but surely become one of the most important companies for Wall Street stocks. Its amazing growth is due to the integration of artificial intelligence in their chip technology. The CEO, Jensen Huang, reported last month, after the launch of their AI Copilot chip, that “We will see a lot of Blackwell revenue this year”.
The Chip company was founded on April 5th, 1993, by Jensen Huang, who is still the CEO of the company. The company was created after a meeting at Denny’s, a roadside dinner; at the meeting, Jensen Huang – electrical engineer and microprocessor designer at AMD, Chris Malachowsky – engineer at Sun Microsystems, and Curtis Priem – former staff engineer and chip designer at IBM. After the meeting, the three of them decided to start the company.
Yet, as Nvidia lifted their S&P 500 and Nasdaq to record growth, some investors worry that the power of AI the company holds can disappear if any slowdown occurs in the technology process. Steve Sosnick, the chief market strategist at Interactive Brokers, said, "It's Nvidia's market; we're all just trading in it.”
Nvidia has also become one of the most treated companies in Wall Street trading, the chip company having a $50 billion daily turnover. This is a big difference compared to Apple, Tesla, and even Microsoft, which have $10 billion each.
Other tech companies such as Meta, Microfot, or Alphabet are trying to build their own artificial intelligence computing capabilities that can be integrated into their technology. We can wait and see which one will be the next.
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