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Nvidia overtook Apple to become the most valuable company in the world on Friday October 25, thanks to strong demand for its chips specializing in artificial intelligence.
What we know
On October 25, Nvidia’s stock market value briefly reached $3.53 trillion, just above Apple’s $3.52 trillion. Nvidia had already become the world’s most valuable company in June, but was later overtaken by Microsoft and Apple. In recent months, the market capitalizations of the three technology giants have become closer. As of Friday, Microsoft’s stock market value was $3.18 trillion, and its shares rose 0.8%.
Nvidia shares hit a record high on Tuesday, extending last week’s gains when TSMC, the world’s largest contract chipmaker, reported a 54% jump in quarterly profit, beating forecasts, thanks to strong demand for artificial intelligence chips.
However, by the end of Friday, Nvidia’s market value had fallen to $3.47 trillion, while Apple’s market value remained at $3.52 trillion.
Source : Reuters : Reuters
