Shares of the Silicon Valley chipmaker gained 5.2% to $1,212.89, giving Nvidia a stock market value of $3.01 trillion.
Shares of artificial intelligence chip maker Nvidia were trading at all-time highs on Wednesday, with the stock valuation surpassing the $3 trillion mark to become the world’s second most valuable company, surpassing Apple.
Nvidia’s latest rally comes as it prepares to split its shares ten-for-one, effective June 7, a move that could increase its appeal to retail investors.
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Nvidia shares have soared 145% so far in 2024, with demand for its high-end processors far outstripping supply as Microsoft, Meta Platforms, and Alphabet, which owns Google, compete to develop their computing capabilities and master emerging technology.
With a 5.2% increase in shares to $1,212.89, the Silicon Valley chipmaker’s market value is now $3.01 trillion. However, with a 1.6% increase in value and a market value of US$3.14 trillion, Microsoft is still the most valuable company in the world.
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