Nvidia removed Apple from its title as the world’s most valuable company on Monday. after the company announced a huge dividend, driven by insatiable demand for specialized intellectual property. LSEG data shows the market value of Nvidia shares briefly reached $3.53 billion. That’s slightly more than Apple’s $3.52 billion valuation.
Nvidia ended the day down 0.8% with a market capitalization of $3.47 billion, while Apple shares rose 0.4%, valuing the iPhone maker at $3 billion, or $52. The Silicon Valley chipmaker is a major supplier of processors used in AI computers, and the company is a key winner in the race by Microsoft, Alphabet, Meta Platforms and other heavyweights to dominate the technology. Known since the 1990s as a video game maker, Nvidia shares are up nearly 18 percent through October. It was the biggest gainer behind OpenAI, behind only ChatGPT, which announced a $6.6 billion round of funding.
Nvidia and other semiconductor companies rose on Thursday This comes after data maker Western Digital reported quarterly profits that beat analyst estimates. As a result, they are optimistic about information demand. “Many companies are now using artificial intelligence in their daily operations. and demand for Nvidia chips continues to increase,” said Russ Mould, Chief Financial Officer of AJ Bell. “It’s definitely in an interesting spot. And if we avoid the Great Depression in the United States There is a feeling that various companies will continue to invest heavily in AI capabilities to build a strong backbone for Nvidia.”
Nvidia shares hit record highs on Tuesday. This is off from last week when TSMC, the world’s largest contract manufacturer, issued a highly anticipated 54 shares.
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