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BUSINESS

Nvidia onttroont Microsoft en Apple

By Duncan Mil

June 19, 2024 - Nvidia stock has hit record highs driven by investor frenzy over its artificial intel­li­gence chips. Its explos­ive share price growth has made it the world’s most valuable publicly traded company.

On Tuesday (June 18), Nvidia dethroned both Microsoft and Apple to become the most valu­able com­pany in the world. The com­pany’s shares climbed 3.2 per cent to $135.18 yes­ter­day, bring­ing its mar­ket cap­it­al­isa­tion to $3.332 trillion.

The pioneer of GPUs (graphics processing units) and a frontrunner in the AI data centre business has experienced a staggering 40% growth in just the past four weeks and an impressive 209% over the past year.

“This is animal spir­its now, it’s human emo­tion tak­ing over,” Ted Mortonson, a tech strategist at Baird, told the Financial Times. “Nvidia is a fant­astic com­pany, don’t get me wrong. There are lots of drivers [for the stock] but 40% in a month, that’s not nor­mal.”

According to Nvidia’s visionary CEO, Jensen Huang, the company is not just a player, but the catalyst of an “industrial revolution,” harnessing the potential of generative AI to revolutionise all sectors of the global economy.

Sources
PUBLISHED: 19/06/2024; STORY: Graphic News; PICTURES: Getty Images
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