Nvidia became the world’s most valuable company on Tuesday. The Taiwanese chipmaker stock shares climbed 3.6% for a total market cap of $3.34 billion, surpassing Microsoft and Apple.
The company increased its stock share prices 170% so far in 2024, a huge bump that followed a positive first-quarter report earlier this year. The stock has multiplied ninefold since the end of 2022, a rise that coincides with the emergence of generative AI.
Nvidia has about 80% of the market for AI chips used in data centers, and this is a pivotal business for OpenAI, Microsoft, Alphabet, Amazon, Meta,…
