Close Menu
The Central Wire
  • Home
  • News
  • Editorial
  • Business
  • Sci-Tech
  • Entertainment
  • Sports
  • Opinion
  • Markets
  • Automotive
  • Lifestyle
  • Tech Reviews
Facebook
The Central WireThe Central Wire
Subscribe
Friday, June 6
  • Home
  • News
  • Editorial
  • Business
  • Sci-Tech
  • Entertainment
  • Sports
The Central Wire
  • Home
  • News
  • Editorial
  • Business
  • Sci-Tech
  • Entertainment
  • Sports
Home - MARKET NEWS - Nvidia becomes world’s most valuable company
Nvidia becomes world’s most valuable company

Nvidia becomes world’s most valuable company

MARKET NEWS 28/06/2024Sunil GarnayakBy Sunil Garnayak2 Mins Read
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023.

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023.
| Photo Credit: Reuters

Nvidia edged ahead of other tech companies on June 18 to become the world’s most valuable publicly traded company in the latest sign of the might of artificial intelligence.

The chip company, which has enjoyed a monumental ascent over the last 18 months amid enthusiasm over generative AI, jumped 3.4% near 1.25 p.m. (10.55 p.m. IST), giving it a market capitalisation of about $3.3 trillion, slightly ahead of Microsoft and Apple.

The California-based company, which is led by Jensen Huang, has seen profits soar due to torrid demand for its powerful GPU chips, which have set the industry’s pace in pushing new advances in AI.

In May, Nvidia reported a net profit of $14.9 billion, while its revenue of $26 billion was almost four times what it took in during the same fiscal quarter last year.

“We believe over the next year the race to $4 trillion market cap in tech will be front and center between Nvidia, Apple, and Microsoft,” said a note earlier this week from Wedbush Securities.

“Nvidia’s GPU chips are in essence the new gold or oil in the tech sector as more enterprises and consumers quickly head down this path with the 4th Industrial Revolution well underway.”

source

Sunil Garnayak
Sunil Garnayak

Sunil Garnayak is an expert in Indian news with extensive knowledge of the nation’s political, social, and economic landscape and international relations. With years of experience in journalism, Sunil delivers in-depth analysis and accurate reporting that keeps readers informed about the latest developments in India. His commitment to factual accuracy and nuanced storytelling ensures that his articles provide valuable insights into the country’s most pressing issues.

Previous ArticleIndian economy, financial system remain robust despite global economy facing heightened risks: FSR
Next Article Why the GST Council recommended biometric-based Aadhaar authentication for new registrations: Explained

Keep Reading

NSE Indices launches India's first electric vehicle index

Rupee gains 7 paise to 83.44 against U.S. dollar in early trade

Sensex, Nifty end flat after hitting record high levels

DMCA.com Protection Status
World At a Glance

Ireland Hate Speech Law Shelved After Controversy

22/09/2024

Russian Airstrike Hits Kharkiv, Injuring 12 Civilians

22/09/2024

Ukraine War: Russia Rejects Peace Talks in Diplomatic Blow

22/09/2024

France Right-Wing Government Rises Amid Political Deadlock

22/09/2024

Ukraine War: Allies’ Support Key to Victory, Zelenskyy Warns

22/09/2024
Trending Now

Armani/Caffè Debuts in Mumbai, Redefining Luxury Dining

13/09/2024

Friday the 13th: Superstition, History, and the Internet’s Obsession

13/09/2024

Paris Paralympics 2024: India’s Record 29 Medals Achieved

09/09/2024

All the Winners (and EGOTs) of the 2024 Creative Arts Emmys

09/09/2024

Gillian Anderson’s Evolution: From Iconic TV Star to Advocate for Women’s Sexual Liberation

09/09/2024
TCW LOGO
  • World Today
  • India Today
  • Sports
  • Entertainment
  • Business
  • Gadgets Review
  • Car Review
  • Bike Review
  • Mobile Review
  • Tablet review
  • Editorials
  • Opinion
  • Editor's Choice
  • Explained
  • Trending Now
© 2025 The Central Wire or its affiliated companies. All rights reserved.
  • Privacy Policy
  • Terms
  • About Us
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.