Nvidia is now the world's third most valuable public corporation after Apple and Microsoft, surpassing Saudi Aramco in market value. This marks another milestone for the semiconductor giant.
The business reached a new high of $2.06 trillion at the close of Friday's trading, Mar. 1, breaking beyond the $2 trillion barrier. Meanwhile, Aramco's worth fell to $2.03 trillion at the time.
Nvidia Domination
According to BNN Bloomberg, stocks in Nvidia have soared after the company reported massive profits, which bolstered Wall Street's faith in the ability of artificial intelligence (AI) to revolutionize the technology industry. Graphics chips for the complicated computational processes required to power the AI applications that firms are racing to build are manufactured by this company, and they dominate the market.
All year long, the increasing prices have been going strong. The stock's worth has gone up by almost $834 billion, or 66%. Premarket trading on Monday, March 4, saw the stock rise 1.8%.
Meanwhile, shares of Saudi Arabia's state-run oil company Aramco have fallen more than 5% so far this year due to lower output because of the OPEC+ restrictions and speculation of a follow-on sale by the Saudi government.
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