Nvidia ranked third by market cap in the US
- February 15, 2024
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After Wednesday’s trading, Nvidia surpassed Google’s parent company Alphabet in terms of market value and ranked third on the list, behind Apple and Microsoft. As reported by Ukrinform,
After Wednesday’s trading, Nvidia surpassed Google’s parent company Alphabet in terms of market value and ranked third on the list, behind Apple and Microsoft.
As reported by Ukrinform, CNBC.
Nvidia shares rose more than 2% to $739 per share, giving it a market cap of $1.83 trillion. Compared to Alphabet’s $1.82 trillion market cap.
The move comes a day after Nvidia overtook Amazon in terms of market cap.
Nvidia is currently the third largest US company by market value, behind Apple and Microsoft.
The symbolic milestone is further confirmation that Nvidia has become a Wall Street favorite thanks to rising sales of its AI chips. The company is valued even higher than some of the larger software companies and cloud providers that have developed and integrated AI technology into their products.
Nvidia’s shares are up more than 221% in the past 12 months, driven by strong demand for server AI chips that can cost more than $20,000. per unit Companies like Google and Amazon need thousands of these chips for their cloud services.
Market value of the company according to Tuesday’s trading results as reported by Ukrinform Nvidia surpasses Amazon for the first time since 2002 amid strong demand for AI chips.
Photo: Nvidia GTC
Source: Ukrinform
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