Nvidia is now the world's most valuable company

The Street
The Street
  • 4 months ago
Nvidia’s market capitalization crossed roughly $3.34 trillion, edging past Microsoft’s $3.32 trillion value.

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Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on
00:03the street today. Stocks are on track for yet another winning week as Wall Street returns
00:07from the Juneteenth holiday. The S&P 500 and the tech-heavy Nasdaq both crossed new record highs
00:13on Tuesday. Investors are reacting to weekly jobless claims. 238,000 Americans filed for
00:18unemployment benefits last week. That's down from 243,000 the previous week. In other news,
00:25NVIDIA has officially surpassed Microsoft to become the most valuable public company in the
00:30world. NVIDIA's market cap is roughly $3.4 trillion, just above Microsoft's $3.32 trillion
00:36market value. Apple trails closely behind at $3.27 trillion. But this didn't happen overnight. After
00:42NVIDIA saw its stock skyrocket 239% in 2023, shares have rallied another 181% so far in 2024.
00:52Over the last five years, the stock has shot up over 3,400%. NVIDIA announced a stock split
00:59earlier in June, making its shares more affordable for the everyday investor.
01:04More importantly, demand for the stock is tied to NVIDIA's dominance as the leader in the AI chip
01:10race. It controls 80% of the processor market by some estimates. The chipmaker recently announced
01:15its next-generation chip, slated for 2025, and a new platform called Rubin, slated for 2026.
01:22That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins with
01:26The Street.

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