Nvidia has taken over Apple to become the second most valuable publicly listed company as its market value has soared past $3 trillion.
The chip maker’s share price jumped over 5% on Wednesday to more than $1,224, driven by strong investor confidence in its potential role in the AI boom.
Nvidia is Now Just Second To Microsoft
Nvidia’s valuation is now second only to Microsoft, which is also heavily invested in AI through OpenAI.
Nvidia’s rise, from a $2 trillion valuation in February, was further fueled by its announcement of a 10-for-1 stock split, aimed at attracting more small investors.
Next Industrial Revolution
Originally known for graphics processing chips, Nvidia has long incorporated machine learning features, positioning it as a key player in the AI industry.
CEO Jensen Huang has described this as the dawn of the “next industrial revolution” as the company’s quarter sales reached a record $26 billion ending April 28.
