Nvidia has once again become the largest company in the world by market capitalization, surpassing both Apple and Microsoft. This news comes from Bloomberg.
The market value of Nvidia reached $3.5 trillion, exceeding the capitalization of Apple ($3.389 trillion) and Microsoft ($3.102 trillion). This marks the second time this year that Nvidia has taken the top spot in market value, with the first instance occurring in June.
The company has shown a growth of over 850% since the end of 2022, and an impressive 2700% over the past five years.
Nvidia is also responsible for approximately a quarter of the overall growth of the S&P 500, which is up 21% this year. It is expected that Nvidia's revenue will double in the current fiscal year and increase by another 44% next year.
Analysts note that the sharp rise of the company in the stock market confirms that interest in artificial intelligence continues to grow rapidly. Nvidia, a leading supplier of AI chips, has outpaced its competitors amid expectations that the "AI boom" will only intensify.
The company collaborates with major tech giants such as Meta, Microsoft, and Google, which actively utilize its solutions for data processing and the advancement of AI technologies.
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