Nvidia has become the world’s most valuable company following a staggering rally in its shares, underlining the outsized role investors expect artificial intelligence to play in the global economy over coming years. - REUTERS
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00:00NVIDIA became the world's most valuable company on Tuesday on an insatiable demand for its
00:06high-end processors. The chipmaker dethroned tech heavyweight Microsoft just days after
00:12overtaking iPhone maker Apple. NVIDIA stock has surged about 173% so far this year, compared
00:20with a rise of about 19% for Microsoft. Demand for NVIDIA's chips is outpacing supply.
00:27Tech giants Microsoft, MetaPlatforms, and Google owner Alphabet are competing to build
00:32out their AI computing capabilities. But NVIDIA commands more than 80% of the market share
00:38for AI chips, making it a major winner from surging AI development. The company also recently
00:44split its stock 10-for-1, increasing the appeal among individual investors. It took nine months
00:51for the company's market value to expand from $1 trillion to $2 trillion, which it hit
00:57in February. It reached $3 trillion in early June.