Nvidia Achieves Milestone in Market Value
(MENAFN) On Wednesday, Nvidia, the renowned American tech giant, achieved a remarkable feat by becoming the first publicly traded company to hit a market capitalization of USD4 trillion.
This milestone underscores the rapid rise of the company, particularly driven by the increasing demand for artificial intelligence (AI) technologies.
By 1400GMT, the company's stock had risen by 2.6 percent, reflecting the growing interest in AI advancements.
This achievement marks a significant moment in history as Nvidia has surpassed industry leaders Apple and Microsoft, which had previously reached a USD3 trillion market value.
With this new valuation, Nvidia has now secured its position as the most valuable company in the world.
Founded in 1993 and headquartered in California, Nvidia first crossed the USD2 trillion threshold in February 2024 and later reached the USD3 trillion mark in June of the same year.
The company's rapid growth has been largely fueled by the escalating demand for AI processors and hardware, particularly following the rise of AI chatbots like "ChatGPT."
Despite Nvidia's dominance in the graphics processing unit (GPU) market, which plays a crucial role in AI-related tasks and the development of large language models (LLMs), the swift pace of its growth this year is somewhat surprising.
This is especially considering that Nvidia has faced restrictions from the US government, limiting its access to the Chinese market.
Recently, Nvidia has been dealing with a series of export controls and bans imposed by the US government.
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