Nvidia overtakes Microsoft! Playing for the top
The balance is shifting in the technology world. Hardware giant Nvidia overtook Microsoft in the market valuation race and regained the title of the second most valuable company.
Nvidia overtakes Microsoft to become the second most valuable company
Nvidia surpassed Microsoft to become the second most valuable company by market capitalization. Nvidia shares started trading at around 133 dollars, up nearly 1 percent in recent hours. This rise brought the company’s market capitalization to 3.26 trillion dollars, surpassing Microsoft’s valuation of 3.09 trillion dollars.
Apple, with a market capitalization of $3.44 trillion, is now more valuable than Nvidia. This is a significant milestone for Nvidia, which focuses on graphics processing units (GPUs) and their applications in gaming, artificial intelligence and autonomous vehicles.
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Accordingly, the company has seen tremendous growth over the past year. The share price has increased by nearly 200 percent compared to a year ago. In fact, it has gained more than 170 percent since the beginning of the year. The company overtook Apple to become the most valuable company in June, when its shares reached a record high after a 10-for-1 stock split.
The rise also reflects demand for Nvidia’s GPU models, which have become indispensable for training artificial intelligence systems. The company is also expected to unveil new chips this week that will power new AI and autonomous technologies.
Nvidia’s valuation surge also reflects the financial results of its main chip manufacturing partner TSMC. TSMC reported that its revenues for the September quarter increased by more than 36 percent year-on-year.
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