Nvidia Becomes Most Valuable Company in The World, Microsoft on Second Position

Nvidia, associated with the technology business, has achieved the feat of becoming the world’s most valued company. It has left Microsoft behind among the big software companies. Nvidia has benefited from the rapid growth of the Artificial Intelligence (AI) segment.

chip maker Nvidia Shares rose nearly 3.5 percent to $135.58. With this, the market capitalization of the company increased to approximately $3.33 trillion. Recently, Nvidia had defeated iPhone maker Apple in market capitalization. Microsoft shares were down about 0.45 percent. Due to this the market value of the company decreased to 3.31 lakh crore dollars. Apple’s shares have fallen more than one percent. Due to this, the market capitalization of the company reduced to about 3.28 trillion dollars.

The strong rise in Nvidia’s stock has increased the enthusiasm about AI on Wall Street. Due to this, S&P 500 and Nasdaq have reached record highs. With this, it has also become the most traded company on Wall Street. Recently its average turnover per day had reached about 50 billion dollars. For Apple, Microsoft and Tesla this figure is around $10 billion. Nvidia’s share of all trading among S&P 500 companies has increased to about 16 percent. The company’s shares have increased almost three times this year. In comparison, Microsoft’s shares have increased by about 19 percent.

Microsoft purchased Activision Blizzard for approximately $69 billion to strengthen its position in the video gaming market. Japan’s consumer electronics company Sony holds the first position in this market. Recently, layoffs were also made in the team related to Microsoft’s cloud software and service rental business. In the last few months, Microsoft has reduced its investment in units related to mixed reality. However, the company has said that it is committed to HoloLens. Earlier this year, Microsoft’s market capitalization exceeded Apple’s for the first time in two years. Microsoft’s share price had gained momentum after taking a big step in generative artificial intelligence by investing in ChatGPT maker OpenAI.

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