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Nvidia Surpasses Apple, Becomes A More Valuable Company

Nvidia has surpassed Apple, becoming the second most valuable company in the world, after its market capitalisation reached U$3.01 trillion, placing it just ahead of Apple’s U$3 trillion.

Apple seemed to be losing out earlier this year as sales growth stalled, but recently, shares were boosted by anticipation over how the company plans to incorporate AI into its own strategy. Shares rose 0.7 per cent.

Nvidia is currently dominating the AI race with its H100 chipset, which has only helped its market capitalisation to rise.

In May last year, the company reached the U$1 trillion mark, then jumped past U$2 trillion in February this year, becoming more valuable than Amazon and Alphabet, the owner of Google.

In May, Nvidia reportedly made U$14 billion in profit due to the amount of chipsets sold.

The only company still ahead of Nvidia is Microsoft, with a current market capitalisation of U$3.15 trillion as of February this year. Its stock sits at over U$1,220 per share, however, Nvidia reportedly plans to split this on June 7.

This move is expected to increase the number of shares by a factor of 10, as well as reduce their value. This will reportedly make shares more affordable.

According to CNBC, Nvidia’s AI accelerators account for between 70 per cent and 95 per cent of the market share for AI chips.

The company now has plans to launch a new AI chip annually, which will start with the Blackwell B200 GPU, expected to be released later this year.

CEO Jensen Huang was mobbed by attendees at the Computex tech trade fair recently.

Nvidia was founded in 1993 and was initially known for creating computer chips that process graphics, particularly for computer games.

Before AI took off, the company started adding features to its chips that were claimed to help machine learning, while at the same time, increasing its market share.

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