Nvidia overtakes Apple to become the most valuable company in the world

New York (EFE). – Technology company Nvidia overtook Apple on Tuesday to become the world’s most valuable listed company for the second time, with a market capitalization of $3.4 trillion.

At the close of trading on Wall Street, Nvidia shares rose 3%; Its shares are up 182% this year, thanks in large part to its GPUs and artificial intelligence services.

In June, the chip manufacturer already overtook Apple and was recognized as the most valuable company for a short time (just a few hours).

Nvidia jump

The company, founded in 1991, has become a leader in the artificial intelligence sector and was named Wall Street’s “Beautiful Girl” this year.

As such, it is the largest supplier of GPUs to tech companies, and its products are used in software tools such as OpenAI’s ChatGPT chatbot.

The success of its products resulted in a net profit of US$31.48 billion in the first fiscal semester, February to August, up 282% year-on-year, citing strong demand for its products.

On the other hand, last week the owner of the Dow Jones index announced that Nvidia will replace Intel in this indicator on November 8th to ensure “more representative exposure to the semiconductor industry.”

Meanwhile, Apple shares on the New York stock market have grown by 17% this year: the company was the first to reach a market capitalization of $1 million, and later to $2 million, reports the specialized portal CNBC.

Currently, all five companies that dominate the ranking of the largest listed companies are from the technology sector: Nvidia is followed by Apple, Microsoft, Amazon and Alphabet.