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Nvidia surpasses Microsoft to become the world’s most valuable company

20 Jun 2024

Its share price almost doubled since the beginning of 2024. The chip maker is now worth $3.34 trillion against Microsoft’s $3.32 trillion.

California-based AI chip maker Nvidia is now worth more than Microsoft. It surpassed Apple earlier this month. The company dominates the market for chips used for training and running generative AI models. ChatGPT is one such model. It saw a spike in sales of its graphic cards in 2020 when consumers rushed to mine their bitcoins.

Its Taiwanese owner, Jansen Huang’s popularity burgeoned along with his company. The company’s market capitalisation jumped from $1.21 trillion on January 6th this year to $3.34 this week.

Nvidia provides Graphics Processing Units (GPUs) to cloud service providers to train and run AI applications. It serves over 20,000 startups and established conglomerates like Microsoft, Amazon, and Alphabet.

Nvidia offers the Blackwell platform, which facilitates real-time generative AI on large language models at 25 times less cost and energy consumption than the last platform.

It is also venturing into deep learning and autonomous vehicles.

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