Nvidia Becomes World's Most Valuable Stock
Nvidia's market capitalization pushed up beyond $3.33 trillion.
Nvidia overtook Microsoft on June 18th to become the world's most valuable company. This milestone came just two weeks after Nvidia surpassed Apple to secure the second spot in market capitalization.[1]
Nvidia's stock surged approximately 3.5%, reaching over $135 per share and pushing its market capitalization beyond $3.33 trillion. Meanwhile, Microsoft's market cap saw a 0.4% decline and stood at nearly $3.32 trillion.
The chipmaker's shares have skyrocketed more than 215% over the past year and 3,400% over the past five years.
So far this year, Nvidia's stock has gained 175%, compared to Microsoft's under 19% increase.
Nvidia first crossed the $1 trillion market cap on June 13th, 2023, and rapidly reached $2 trillion by March 1st, before hitting the $3 trillion mark on June 5th.
Nvidia Corporation, led by CEO Jensen Huang, unveiled the Blackwell Ultra chip slated for 2025 and introduced the development of the next-generation Rubin platform scheduled for 2026.
To help software developers, Nvidia offers tools and pre-trained AI models to facilitate the integration of AI functionalities into PC applications. Additionally, Nvidia's MGX program for server design enables expedited product launches by partners like Hewlett Packard Enterprise Co. and Dell Technologies Inc.
Huang emphasized before the importance of countries owning the production of their own intelligence. In a fireside chat at the World Governments Summit in Dubai with the UAE’s Minister of AI Omar Al Olama, Huang described sovereign AI as a vast opportunity for global leaders.