Apple loses title of world's largest company to Nvidia

Nvidia is a supplier of graphics processing units (GPUs) - hardware used to deploy advanced AI software like ChatGPT - number 1 in the world .

Apple lost the title of world's largest public company to Nvidia.

Over the past five years, the company’s stock has increased more than 2,700% and its revenue has been steady. In particular, Nvidia’s stock has nearly tripled in value by 2024 as investors continue to place their faith in the company’s ability to sustain growth thanks to GPUs and its leadership in the AI ​​market.

Founded in 1991 as a maker of chips for 3D gaming, Nvidia has evolved in recent years as its chip designs have become ideal for AI processing, and the company has developed more powerful chips and software specifically for the technology.

Apple was the first company to reach the $1 trillion and $2 trillion market capitalization milestones and has long held the title of the world's largest public company. Nvidia surpassed Apple once in June before falling back to second place over the summer.

Nvidia shares rose nearly 3% in trading on November 5, bringing its market capitalization to $3.43 trillion, surpassing Apple's $3.4 trillion, making Nvidia the world's largest publicly traded company. Microsoft is No. 3 on the list with a market capitalization of nearly $3.1 trillion.

Source: https://kinhtedothi.vn/apple-mat-ngoi-cong-ty-lon-nhat-the-gioi-vao-tay-nvidia.html