6th November 2024
We take the liberty of classifying Nvidia as a Taiwan-related company because Nvidia’s long-time CEO, co-founder and co-owner, Jensen Huang, was born in Taiwan.
Nvidia surpassed Apple in market capitalization on last Tuesday, becoming the world’s most valuable publicly traded company for the second time.
Nvidia’s stock rose nearly 3%, pushing its market cap to $3.43 trillion, ahead of Apple at $3.4 trillion. Shares of Nvidia have surged by almost 300% in 2024, as investors continue to place their confidence in the company’s ability to sustain rapid growth, driven by its dominance in graphics processing units (GPUs) and leadership in the artificial intelligence sector.
As the leading supplier of GPUs, which are essential for developing and deploying advanced AI applications like OpenAI’s ChatGPT, Nvidia has seen its stock rise more than 2,700% over the past five years. The company has also reported record-breaking revenue growth, more than doubling in each of the last five quarters, with three of those quarters seeing a tripling of revenue.
Nvidia briefly surpassed Apple in market value in June before seeing a decline over the summer. Microsoft holds the third spot, with a market cap just under $3.1 trillion.
Founded in 1991 to create chips for 3D gaming, Nvidia has seen explosive growth in recent years, thanks to the discovery by researchers that its GPU designs are ideal for the parallel processing required for AI tasks. The company has since developed specialized software and more powerful chips tailored specifically for artificial intelligence.
