Nvidia Surges to Brief Market Lead Over Apple

On Monday, Nvidia Corp NVDA momentarily overtook Apple Inc AAPL as the most valuable company in the world.

Market Cap Milestone

Nvidia’s stock price climbed, leading to a market cap of $3.38 trillion, surpassing Apple’s $3.35 trillion valuation, according to CNBC.

Finding Stability

By the end of the trading session, Apple regained its position at the top. Nonetheless, this incident emphasizes Nvidia’s remarkable transformation from a 3D gaming startup to a key player in artificial intelligence (AI).

Powering AI Growth

A large part of Nvidia’s growth is linked to its graphics processing units (GPUs). Once designed primarily for gaming, these GPUs have become essential in AI technologies, facilitating progress in deep learning and cloud computing.

Strong Demand

Revenue for Nvidia has soared, doubling over five quarters and tripling in three. This surge is fueled by high demand for its Blackwell AI GPU. Major tech companies like Microsoft Corp MSFT, Meta Platforms Inc META, and Amazon.Com Inc AMZN are heavily investing in Nvidia’s H100 GPU to enhance their AI projects.

Nvidia Joins the Dow

Recently, Nvidia was added to the Dow Jones Industrial Average, taking the place of Intel Corp INTC.

Future Prospects

Financial analyst Jim Cramer pointed out that Google’s planned increase in AI infrastructure investments next year could further boost Nvidia’s prospects.

A Journey Through Innovation

Nvidia’s beginnings trace back to 1993, when co-founder and CEO Jensen Huang and engineers Chris Malachowsky and Curtis Priem met at a Denny’s in San Jose. They envisioned creating affordable computing chips. Their first product, the NV1 chip, released in 1995, faced difficulties and nearly led Nvidia to bankruptcy. However, the subsequent launch of the successful RIVA 128 chip in 1997 marked a turning point for the company.

Investment Opportunities

For those interested in investing in Nvidia, options include the SPDR S&P 500 ETF Trust SPY and the iShares Core S&P 500 ETF IVV.

Current Stock Performance

Price Action: As of the latest update on Tuesday, NVDA stock is up by 2.8%, trading at $139.88.

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