Nvidia has become the world's most valuable publicly traded company, surpassing Microsoft and Apple. The AI company's shares jumped by 3.4 percent, resulting in a market capitalisation of approximately $3.3 trillion. Led by Jensen Huang, Nvidia surpassed Apple by market value for the first time since 2002, earlier this month. Nvidia and Apple have exchanged the top spot in recent days, and last week, Apple briefly overtook Microsoft to hold the lead.
Nvidia's stock has surged around 173% this year, in stark contrast to Microsoft's 19% rise. This increase comes as tech giants like Microsoft, Meta Platforms, and Alphabet (Google's parent company) are striving to enhance their AI computing capabilities to dominate the sector.
Moreover, Nvidia has become the most traded company on Wall Street, with an average daily turnover of $50 billion. This is significantly higher than the approximately $10 billion daily turnover for Apple, Microsoft, and Tesla, according to LSEG data. Nvidia now represents about 16% of all trading within S&P 500 companies.
Nvidia's superior AI processors have positioned it as a significant beneficiary of the AI boom, making it a focal point for investors.
