Nvidia has become the world’s second most valuable company. On Wednesday afternoon, the chipmaker’s market value reached $3.01 trillion, slightly ahead of Apple’s $3 trillion.
As Nvidia dominating the AI battle with its flagship H100 processor, the company’s market capitalization has only increased. Nvidia reached $1 trillion in May 2023 and surpassed $2 trillion in February of this year, making it more valuable than Amazon and Alphabet.
In May, Nvidia recorded a stunning $14 billion profit from all of the chips it sells. Nvidia now trails only Microsoft, which has a market capitalization of $3.15 trillion. The chipmaker’s stock is presently trading at more than $1,220 per share, but Nvidia intends to split the stock on June 7th.
READ MORE: An Outdated Parental Control Flaw That Allows Children To Bypass Web Filters Is Being Fixed By Apple
CNBC reports that Nvidia’s AI accelerators account for 70 percent to 95 percent of the AI processor market. The business now intends to release a new AI processor on a yearly basis, beginning with the Blackwell B200 GPU, which is coming later this year.
Radiant TV, offering to elevate your entertainment game! Movies, TV series, exclusive interviews, music, and more—download now on various devices, including iPhones, Androids, smart TVs, Apple TV, Fire Stick, and more.
