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NVIDIA becomes the most valuable company for the first time

Nvidia has surpassed both Microsoft and Apple to become the world’s most valuable company for the first time.

Shares of the U.S. tech giant, known for its artificial intelligence (AI) chips, climbed by 3.5% in New York, bringing Nvidia’s market valuation to $3.34 trillion (£2.63 trillion).

World's most valuable companies, 2024 June.

Microsoft, previously leading, now follows closely with a market cap of $3.32 trillion, while Apple stands at $3.29 trillion.

Nvidia shares have surged by 180% this year and nearly 4,500% over the past five years, fueled by growing enthusiasm for AI technology.

Nvidia is regarded as the leader in developing high-powered chips essential for AI advancements.

Despite these significant gains, some analysts predict Nvidia’s value will increase substantially in the future.

Hans Mosesmann, an analyst at Rosenblatt Securities, projects that Nvidia’s share price could climb from its current $136 to approximately $200, which would value the company at nearly $5 trillion.

One of the world’s leading technology giants has opened a branch in Yerevan in 2022. The Armenia branch is headed by Rev Lebaredian, Vice President of Omniverse and Simulation Technology at NVIDIA.

“Armenia’s IT sector has tremendous potential for development, creating opportunities to further deepen our cooperation.” – Jensen Huang stated this at a meeting with Armenian President Vahagn Khachaturian, who visited the company’s headquarters in Silicon Valley in California.

NVIDIA has emerged as one of the largest taxpayers in Armenia during the 2023-2024 period. This significant contribution underscores the company’s growing presence and economic impact in the region. By investing in local talent and infrastructure, NVIDIA is not only fostering technological advancement but also supporting the Armenian economy

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About author

Elya is a passionate contributor to magazine, where she shares her expertise in technology through compelling content, stories, and insightful perspectives. With a strong background in development and software automation, Elya brings a wealth of knowledge and experience to her articles, providing readers with valuable insights into the ever-evolving tech landscape.
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