Microsoft back as most valuable firm as Nvidia slips
Microsoft back as most valuable firm as Nvidia slips
Microsoft back as most valuable firm as Nvidia slips
Nvidia's brief reign as the world's most valuable company came to an end as its share price plummeted by more than 3. 5% on Thursday, allowing Microsoft to reclaim the top spot. Nvidia's stock market valuation dropped to $3. 22tn, while Microsoft's value remained steady at over $3. 3tn. The surge in Nvidia's value has been attributed to its dominance in the tech sector, particularly in the development of chips that power artificial intelligence (AI). The competition for the title of the world's most valuable company is currently between Nvidia, Microsoft, and Apple, all of which are worth more than $3tn. Analysts anticipate a fierce battle to reach a $4 trillion market cap in the tech industry over the next year, with Nvidia, Apple, and Microsoft leading the charge. Nvidia's stock has experienced significant growth due to the increasing demand for chips used to train and run generative AI models, as well as a surge in sales of its graphics cards during the Bitcoin mining rush in 2020.
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"The rise of Nvidia has been driven by its dominance in the tech sector, particularly in the development of chips that power artificial intelligence (AI)."
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