Market capitalization data from financial news outlets like Bloomberg or Reuters

Nvidia Becomes World's Most Valuable Company at $3.34 Trillion, Driven by AI Chips

Jun 18, 2024, 09:29 PM

Nvidia has surpassed Microsoft to become the world's most valuable public company, with a market capitalization of $3.34 trillion. This milestone was achieved as Nvidia's shares rose by 3.6% to close at $135.58, driven by the increasing demand for its AI chips. Nvidia's market cap now exceeds that of other tech giants, including Apple, which stands at $3.28 trillion. The company's stock has rallied more than 160% so far this year, reflecting investor confidence in its role in the AI revolution. Nvidia's rise marks a significant shift in the tech industry, positioning it at the forefront of the AI boom. This surge also contributed to record highs for the S&P 500 and Nasdaq.