Nvidia has become the world's most valuable publicly traded company as the AI company's shares jumped 3.4 per cent, taking its market capitalisation to about $3.3 trillion. With this, the Jensen Huang-led company has now overtaken Microsoft and Apple. Earlier this month, Nvidia surpassed Apple by market value for the first time since 2002. The two have been moving back and forth in the rankings in recent days and last week Apple briefly traded the top spot after overtaking Microsoft.
How has Nvidia stock performed this year compared to the tech giants?
Nvidia's stock has gained nearly 173% so far this year. In comparison, Microsoft's stock has gained about 19%. This has happened when tech giants Microsoft, Meta platform and Google-owned Alphabet are competing to enhance their AI computing capabilities and dominate the technology.
How much has Nvidia increased in market capitalization amid the stock rally?
The surge in Nvidia's shares pushed the company's stock to a record high as the company increased its market capitalization by more than $103 billion on Tuesday. The company's market value rose from $1 trillion to $2 trillion in February in just nine months. It took Nvidia just three months to reach $3 trillion in June.
What do the experts say on Nvidia stock?
“Stock splits can reduce the price per share, making it more affordable for individual investors to buy. With Nvidia doing a 10:1 stock split, retail investors are the real winners here,” said Sam North, market analyst at investment platform eToro, according to news agency Reuters.