Nvidia has secured its place as the most valuable company globally, surpassing Microsoft with a market capitalization of $3.34 trillion. This milestone follows Nvidia's robust stock performance, closing at $136 per share on June 18, marking a 3.5% daily increase and reflecting a staggering 170% surge since the beginning of 2024.
Last year, Nvidia's shares were valued at $43.05, with a trading volume of 55 million. Following a recent 10-for-one stock split, the company now boasts 294 million outstanding shares, drawing significant investor interest amidst its upward trajectory.
The excitement surrounding Nvidia stems from its shift to an annual release schedule for new GPUs, including updates to its Blackwell and Rubin chips. Founded in 1993 as a designer of PC gaming graphics chips, Nvidia has evolved into a leader in AI hardware, supplying GPUs to major global companies for AI projects.
In 2023 alone, Nvidia shipped 900 tons of AI chips, underscoring the intense demand for its products. This growth has not only boosted Nvidia's stock value but also escalated the net worth of its founder and CEO, Jensen Huang.
Huang, who owns a 3% stake in Nvidia, plans to sell up to 600,000 shares by March 2025, potentially elevating his stake to a value of $119 billion, comparable to tech magnates like former Microsoft CEO Steve Ballmer.
Nvidia's ascendance in market value has been dynamic, briefly holding the top spot before Apple's surge following AI-related announcements at its recent developer conference. Nvidia's shareholder meeting on June 26 is anticipated to further illuminate its strategic direction amid what Huang termed a "watershed moment" for the company in 2024.
With promises of groundbreaking advancements in AI and generative technologies across industries, Nvidia continues to captivate both investors and industry watchers alike, positioning itself at the forefront of technological innovation.
