June 18 (Reuters) – Nvidia (NVDA.O), opens new tab became the world’s most valuable company on Tuesday, dethroning tech heavyweight Microsoft (MSFT.O), opens new tab as its high-end processors play a central role in a scramble to dominate artificial intelligence technology.
Shares of the chipmaker climbed 3.5% to $135.58, lifting its market capitalization to $3.335 trillion, just days after overtaking iPhone maker Apple (AAPL.O), opens new tab to become the second most valuable company.
Microsoft’s stock market value was $3.317 trillion as its shares dipped 0.45%.
Apple’s stock slipped over 1%, leaving its value at $3.286 trillion.
Nvidia’s stunning surge in market value over the past year has become emblematic of a Wall Street frenzy driven by optimism about emerging AI technology.
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Source: https://www.reuters.com/markets/us/nvidia-becomes-worlds-most-valuable-company-2024-06-18/
