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Nvidia surpasses Microsoft to become the most valuable company in the world.

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Nvidia Surpasses Microsoft to Claim Top Spot as World’s Most Valuable Company

Despite Microsoft’s impressive growth during the tech boom in recent times, Nvidia has been forging ahead of the industry. Nvidia’s stock value has been soaring, reaching a new record high just yesterday, catapulting Nvidia to the coveted position of the world’s most valuable company.

Having achieved a market cap of $3.34 trillion USD by the close of trading on June 18, 2024, Nvidia now reigns as the most valuable company globally. With a closing stock price exceeding $135 per share, Nvidia has overtaken the likes of Microsoft and Apple in the ongoing battle for tech supremacy, firmly cementing its place at the summit of the industry.

AI has been the driving force behind Nvidia’s remarkable ascent, with the company holding a commanding position in the market due to its cutting-edge GPUs tailored for AI acceleration. Embracing AI early on has paid massive dividends for Nvidia. For context, just in June 2019, Nvidia’s stock was trading below $4, shortly after the introduction of RTX graphics cards and a concerted focus on AI technology.

According to analysts at Wedbush Securities, Nvidia, Microsoft, and Apple are now locked in a fierce race towards reaching a $4 trillion market cap in the upcoming year.

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