Nvidia has overtaken Microsoft as the world’s most valuable company, with its chips playing a key role in the growing artificial intelligence market. The chipmaker’s shares jumped by 3.2% to $135.21, boosting its market capitalization to $3.326 trillion. This came just after Nvidia surpassed Apple to become the second most valuable company. The stock has seen an incredible 173% increase this year, outpacing Microsoft’s 19% rise.
The surge in Nvidia’s shares to a record high added over $103 billion to its market capitalization, as demand for its high-end processors continues to exceed supply. Major tech companies like Microsoft, Meta Platforms, and Alphabet are all racing to enhance their AI computing capabilities in order to dominate this emerging technology. Notably, Nvidia recently split its stock ten-for-one, effective June 7, making its highly valued stock more accessible to individual investors.
Nvidia’s market value soared from $1 trillion to $2 trillion in just nine months as of February and reached $3 trillion in June in a little over three months. The company’s stock split has made it more appealing to retail investors, as it lowers the price per share, making it more affordable to buy. According to Sam North, a market analyst at eToro, retail investors are benefiting the most from Nvidia’s stock split.
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