Nvidia surpasses Apple and Microsoft, becoming world’s most valuable company

Nvidia has been declared the world’s most valuable company, overtaking tech giants Apple and Microsoft. This milestone follows a significant increase in Nvidia’s share prices, highlighting the critical role investors believe artificial intelligence (AI) will play in the global economy in the coming years.

The software company’s shares reportedly rose by 3.5%, reaching a market value of approximately $3.34 trillion, as per Reuters.

Last month, Nvidia announced a stock split, further boosting its shares. This surge is attributed to tech giants like Google and Microsoft vying for a limited supply of Nvidia’s high-end chips to gain an edge in AI computing, Reuters reported.

Nvidia’s shares have seen a remarkable rise of over 170% this year and have surged about 1100% since their October 2022 low. The rapid increase in Nvidia’s market value, which took just 96 days to climb from $2 trillion to $3 trillion, reflects high investor confidence in AI.

In contrast, companies like Microsoft and Apple took 945 and 1044 days, respectively, to reach the same milestone.

Other tech giants are also striving to lead the AI race. Apple, for instance, has made significant strides by introducing its personal intelligence system, ‘Apple Intelligence,’ for iPhone, iPad, and Mac at the World Wide Developers Conference. Apple Intelligence leverages Apple silicon to understand and create language and images, perform tasks across apps, and utilize personal context to simplify and expedite daily activities.

“We’re thrilled to introduce a new chapter in Apple innovation. Apple Intelligence will transform what users can do with our products and what our products can do for our users,” said Apple CEO Tim Cook.

Amid these developments, Daniel Bathurst, Head of Product at European start-up, Nscale, a fully vertically integrated AI cloud provider, comments on the number of players entering the AI battleground, and catching up with current top dog Nvidia through rapid innovation. Dan also explores why there is a clear need for a more diverse offering at both the hardware and software level to support the thriving AI landscape. 

“Nvidia’s relentless rise to the top of the leaderboard illustrates a crucial point: powerful hardware is the foundation upon which the AI revolution is built. As enterprise and start-ups alike bet big on AI, more players are entering this arena and catching up quickly. In this battleground for AI spend, constant innovation is king.

“But, while powerful chips are a key ingredient, the AI ecosystem is more than just hardware. We need a diverse offering at the chip, hardware, and software level to support a thriving, sustainable AI landscape. As AI continues to develop, collaboration and diverse innovation in every element of the infrastructure will be crucial to unlocking its full potential.”

Partner Resources

Popular Right Now

Edgecore Insight Podcast

Ep-1: Navigating the Waters of Sustainability

Others have also read ...