Nvidia is witnessing a huge surge in its stocks this year, putting it on the verge of surpassing Apple to become the world’s largest company in terms of market value. This increase in Nvidia’s stock value is attributed to the growing demand for artificial intelligence technologies and the supporting infrastructure.
Currently, Nvidia is nearing a market value of $3.4 trillion, positioning it just one step away from Apple, which still holds the top spot in the world’s highest-valued companies. This success is attributed to Nvidia’s significant share in the artificial intelligence chip market, ranging from 70% to 95% according to estimates.
The company’s stocks have reached record levels, in line with financial reports expectations for major technology companies like Microsoft, Google, Meta, and Amazon, revealing an increase in spending on artificial intelligence infrastructure development.
Nvidia’s CEO, Jensen Huang, whose current wealth is around $121.5 billion according to Forbes magazine, is leading the company towards a bright future. Nvidia’s stocks have seen an unprecedented 180% increase this year alone, driven by high demand for the company’s artificial intelligence chips.
In a move to solidify its position, Nvidia is preparing to launch the new “Blackwell” chips in the final quarter of this year. According to reports from Morgan Stanley, these chips have already been completely sold out for up to the next 12 months, indicating the company’s strong continued growth in the near future.
