Nvidia surpasses Microsoft to become world’s most valuable company
livemint.comAlso Read: Nvidia Agrees to Buy Software Startup ShorelineMicrosoft share price dropped 0.45% and its stock market value was $3.317 trillion. Apple share price slipped over 1%, leaving its value at $3.286 trillion.Nvidia share price has nearly tripled so far this year, compared with a rise of about 19% in Microsoft shares.
Last week, Nvidia split its stock 10-for-one, increasing the appeal for its highly valued stock among individual investors.The rally in Nvidia shares and a stunning surge in its market value over the past year has been driven by optimism about emerging Artificial Intelligence (AI) technology.Also Read: Stock market today: Trade setup for Nifty 50 to US Fed rate, eight stocks to buy or sell on Wednesday — June19Nvidia stock price rally also lifted the S&P 500 and Nasdaq to record highs. Nvidia has also become by far the most traded company on Wall Street, with daily turnover recently averaging $50 billion, compared to around $10 billion each for Apple, Microsoft and Tesla, according to LSEG data.
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