According to recent data, Nvidia briefly surpassed Apple among the most valuable tech stocks in the world. However, the competition for the top spot is tight, with Microsoft holding a slight edge over all.
Let’s see all the details below.
Summary
Nvidia stocks in strong growth briefly surpass the value of Apple
As anticipated, on June 5, Nvidia, the American chip manufacturer, briefly surpassed Apple, becoming the second most valuable company in the world by market capitalization, before returning to third place.
The surge in Nvidia’s market capitalization, which reached over 3.01 trillion dollars, brought the company very close to Microsoft’s peak value of 3.1 trillion dollars. However, Apple’s recovery has been just as swift.
On June 6, in fact, at the opening of the US markets, Apple regained its position, returning to second place with a valuation of 3.007 trillion dollars.
In the same period, Nvidia settled in third place with a valuation of 2.973 trillion dollars. These values represent new all-time highs for Nvidia, Apple, the NASDAQ, and the S&P 500.
Further movements are expected in the coming days, as the global technological landscape continues to evolve. Despite the fluctuations, Microsoft has maintained its advantage, remaining the most valuable company of all time by market capitalization.
However, the dynamic technological context, combined with imminent product launches, partnerships, and potential regulatory interventions, could cause significant changes in the rankings.
Furthermore, on June 10, the Worldwide Developer’s Conference of Apple will be held, and analysts predict a series of announcements on artificial intelligence (AI) from the Cupertino company, including a potential partnership with the ChatGPT producer, OpenAI.
Apple tries to close the gap with Microsoft
According to numerous reports, Apple executives are concerned about falling behind Microsoft, which has invested over 13 billion dollars in OpenAI.
Rumor has it that Apple is rapidly forming partnerships with OpenAI and other related companies, as well as integrating artificial intelligence technologies developed by former employees of rivals like Google.
In any case, Nvidia could be the main beneficiary of the increase in AI stocks expected for 2024.
His chip GPU (Graphical Processing Unit) continue to see a growing demand, consolidating themselves as the reference hardware platform for the development of artificial intelligence.
The dominant position of Nvidia in the AI market is evident, with its chips used by tech giants like Microsoft and Google. However, the influence of Nvidia extends well beyond, involving other industry leaders such as OpenAI, Amazon, and Elon Musk’s xAI.
The growing adoption of Nvidia GPUs is driven by the need for advanced computing power for artificial intelligence applications.
With the continuous development and implementation of AI technologies, Nvidia is in a strategic position to capitalize on this trend, offering hardware solutions that have become essential for many of the world’s biggest technological innovators.
Looking at 2024, Nvidia seems poised to maintain and perhaps expand its leadership in the AI sector.
With a customer base that includes the most influential names in global technology, the company is well positioned to reap the benefits of the surge in artificial intelligence, continuing to drive innovation and growth in this dynamic field.
