Global chipmaker Nvidia Corp. has ascended to the pinnacle of market valuation, surpassing tech heavyweight Microsoft Corp., fueled by an escalating demand for artificial intelligence (AI) chips worldwide.
Currently, Nvidia holds a market capitalization of $3.335 trillion, outstripping Microsoft's $3.317 trillion.
On June 5th, Nvidia crossed the $3 trillion valuation threshold, thereby overtaking tech colossus Apple Inc., which now possesses a market cap of $3.286 trillion.
Nvidia's stock price has witnessed a significant surge recently, closing at $135.58 on Tuesday, marking a 3.51% increase from the previous day. In after-hours trading, the shares further appreciated by 0.6%, reaching $136.40.
The uptick in Nvidia shares follows the company's early June announcement regarding the impending launch of its next generation of AI chips. Prior to the Computex technology exposition in Taiwan, CEO Jensen Huang revealed plans to release Blackwell Ultra, an enhanced version of its Blackwell chip, in 2025, along with a new AI chip platform named Rubin in 2026. Additionally, an Ultra version of Rubin is scheduled for debut in 2027.
At the event, Huang proclaimed, "The next Industrial Revolution has begun." Nvidia also unveiled new tools and software models on the eve of the trade show.
Committed to annual advancements in AI chip technology, the company launched its previous AI super chip, Blackwell GPU, in March, noted for performing certain tasks up to 30 times faster than its predecessor.
The Blackwell model is still under production and is anticipated to be available for customers later in 2024. This platform follows the NVIDIA Hopper architecture, which was introduced two years ago.
