Chairman and Chief Editor
Bedour Ibrahim

Nvidia Corp market value surge to$3.3 trillion، the world’s most valuable company

Wednesday 19/June/2024 - 06:30 AM
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Nvidia Corp ’s stock rose 3.5% to close at $135.58 a share Tuesday، putting the company’s market value at about $3.3 trillion and catapulting it over those of Microsoft and Apple as the top stocks have jockeyed all month for the pole position، with finally edging past both of its big-tech peers، thanks to its relentless rally which has propelled the semiconductor giant’s market capitalization over its mega-cap tech peers، allowing it to clinch the title of the world’s most valuable company as the artificial intelligence wave continues. 

Nvidia Corp is seen as the biggest andNvidia

Nvidia is seen as the biggest and earliest beneficiary of the artificial intelligence technology as it dominates the market with its highly sought-after chips and its ranking is yet another reminder that AI is the top focus of many investors as the company recently executed a stock split، when a company increases the number of shares without diluting the stock’s value، that cut Nvidia’s share price below $130 after trading above $1،200. 

Chip designer and artificial intelligence juggernaut Nvidia Corp narrowly topped Microsoft’s market capitalization Tuesday to become the world’s most valuable public company، less than two weeks after it surpassed Apple’s market cap following months of strong stock gains.

Nvidia Corp chief executive Jensen Huang earned more than $4 billion on Tuesday

Nvidia Corp chief executive Jensen Huang is now the 11th-richest person in the world after his net worth increased by more than $4 billion on Tuesday، scoring his highest ranking yet on Forbes’ real-time billionaire list، and Huang’s net worth has increased by $114 billion over the last five years as the chip designer rode an artificial intelligence driven surge to become the world’s most valuable public company.

Jensen Huang who owns a 3% stake in Nvidia Corp، started the year with a net worth of $77 billion، according to Forbes’ estimates، before the company’s market cap increased by 177% to $3.33 trillion، ranking him ahead of Mukesh Ambani، India’s richest person، and behind former Microsoft CEO Steve Ballmer.

Jensen Huang from 546th-richest person in the world in 2019 to 11 richest now

Nvidia Corp said in a securities filing last month Huang would sell 600 thousand  shares of the company through March 2025، which would net him just over $81.4 million at the company’s current share price and Huang’s net worth has increased since 2019، when Forbes estimated him to be the 546th-richest person in the world. Huang was worth $21 billion last year، ranking him as the world’s 76th-richest person and his net worth soars now to $119 Billion.

Huang has served as Nvidia Corp’s chief executive and president since cofounding the company in 1993 and Nvidia went public in 1999 and has surged in trading in recent years as it dominates the market for the chips needed to power artificial intelligence software، most recently surpassing the market cap of Microsoft and Apple to become now world’s most valuable Company.

Nvidia Corp’s market cap up to $3.33 trillion and Microsoft’s to $3.32 trillion

Nvidia Corp shares traded up more than 3% Tuesday afternoon at around $135.65، while Microsoft traded down a fraction of a percent at $447.58 and the stock performances sent Nvidia’s market cap up to $3.33 trillion and Microsoft’s to $3.32 trillion.

The world’s largest companies Nvidia Corp، Apple and Microsoft led the S&P 500 U.S. stock index to another record high، as Wall Street’s bullishness about the earnings prospects of big tech’s artificial intelligence push extends into summer.

Nvidia، Apple and Microsoft account for20%of  S&P’s total market cap

The gains، which came at the start of a quiet economic and earnings week shortened by Wednesday’s Juneteenth holiday، were unsurprisingly spearheaded by optimism surrounding big technology stocks continuing to enjoy a bump from investor enthusiasm about artificial intelligence prospects.

Apple and Microsoft are both about 95 times larger than the median S&P company’s market value of about $35 billion، while the firms، along with $3.2 trillion Nvidia Corp، account for roughly a fifth of the S&P’s total market cap، raising some concerns about the index’s overall health due to its narrow leadership.