Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Nvidia passes Apple as world’s most valuable company

by admin November 8, 2024
November 8, 2024
Nvidia passes Apple as world’s most valuable company

Nvidia passed Apple in market cap on Tuesday becoming, for a second time, the most valuable publicly traded company in the world.

Nvidia rose nearly 3% to close with a market cap of $3.43 trillion, ahead of Apple at $3.4 trillion. Nvidia shares have almost tripled in 2024, as investors show continued confidence in the company’s ability to maintain a rapid growth rate from its graphics processing units, or GPUs, and a leadership position in the artificial intelligence market.

Apple shares are up about 17% this year, although many analysts say the recent release of the Apple Intelligence suite of features for iPhones could drive increased sales and put the company in a leadership position in “edge AI,” which relies less on GPU-based servers.

Nvidia is the dominant supplier of GPUs, which are used to develop and deploy advanced AI software such as OpenAI’s ChatGPT. Its stock is now up more than 2,700% in the past five years, and revenue has more than doubled in each of the past five quarters, tripling in three of them. 

Apple was the first company to reach a $1 trillion and a $2 trillion market cap. Nvidia previously passed Apple in June before sliding over the summer. Microsoft, ranked third with a market cap of close to $3.1 trillion, is a major customer of Nvidia GPUs to fuel its partnership with OpenAI as well as its own AI ambitions.

Founded in 1991 to produce chips for playing 3D games, Nvidia has taken off in recent years for a very different reason. Over the past decade, scientists and researchers discovered that the same Nvidia chip designs that could render polygons and computer graphics were ideal for the kind of parallel processing needed for AI. Nvidia then developed software and more powerful chips specifically for AI.

Last week, Apple reported a 6% increase in revenue for the most-recent quarter but signaled weaker growth than analysts expected in the current period. Nvidia is scheduled to report results Nov. 20.

S&P Dow Jones announced last week that Nvidia will join the Dow Industrial Average on Friday, replacing longtime rival Intel, and joining Apple in the blue-chip index.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
It’s GAME ON for These Stocks
next post
Tesla, Bitcoin and Truth Social boom in election aftermath

Related Posts

Chipotle to launch Adobo Ranch dip after sluggish...

June 11, 2025

Citadel’s Ken Griffin buys a stegosaurus for $45...

July 19, 2024

Big Lots initiates going-out-of-business sales at remaining locations

December 21, 2024

Tesla’s Chinese rival Nio launches a new brand...

May 17, 2024

Spirit Airlines files for Chapter 11 bankruptcy protection...

August 31, 2025

Retail panic: What the end of the ‘de...

August 30, 2025

Wendy’s will offer $3 breakfast deal as rivals...

May 21, 2024

Zyn-maker Philip Morris announces $600 million Colorado facility...

July 18, 2024

Shein’s global ambitions leaves some cybersecurity experts fearful...

July 10, 2024

McDonald’s exec says average menu item costs 40%...

May 31, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • House passes Trump-backed plan to avert government shutdown

      September 20, 2025
    • Kamala Harris says she ‘had no idea’ she ‘pulled the pin on a hand grenade’ with ‘The View’ answer about Biden

      September 20, 2025
    • Experts warn leftist celebrations of Charlie Kirk’s death signal a dangerous mainstream shift in politics

      September 20, 2025
    • 58 House Dems vote against resolution honoring ‘life and legacy’ of Charlie Kirk

      September 20, 2025
    • Trump-approved plan to avert government shutdown scuttled by Senate

      September 20, 2025

    Categories

    • Business (1,107)
    • Investing (3,081)
    • Politics (3,757)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved