NVIDIA is now the most valuable company in the US after its shares surged past Microsoft amid the growing demand for its advanced AI chips.
(Photo : Justin Sullivan/Getty Images)
First reported by CNBC News, NVIDIA's market cap value closed on Tuesday at $3.34 trillion, surpassing Microsoft's $3.32 trillion. Its value was ninefold bigger than its market cap in 2022 during the start of the AI boom.
(Photo : NASDAQ/Google)
The latest record-breaker was reported after the chipmaker noted a $26 billion revenue in this year's first quarter following the announcement of the "world's most powerful chip" in the Blackwell GPU architecture.
NVIDIA reportedly controls at least 80% of the market for AI chips as leading AI firms like Microsoft, OpenAI, and Meta secure its advanced microchips for data centers and new AI models.
The achievement came just nearly two weeks after NVIDIA ousted Apple to become the second-most valuable company in the US and four months after it reached the $2 trillion mark.
Also Read: NVIDIA Ousts Apple as the Second-Most Valuable US Company
Leading Tech Firms' Shares Surge During the AI Boom
NVIDIA is not the only tech firm that is currently experiencing remarkable share growth over the past years following the AI boom in 2021 and 2022.
Its top competitors Intel and AMD also recorded a double-digit growth rate since last year as AI data centers look for more affordable microchips to build their new AI projects.
(Photo : NASDAQ/Google)
AI leaders like Microsoft and OpenAI also received relative success in the past year as they expanded their product capabilities to attract more tech companies and services.
NVIDIA Faces Potential Anti-Trust Lawsuit Amid Stock Surge
Amid the surge in its shares, NVIDIA and other AI firms might soon face anti-trust lawsuits from the Federal Trade Commission and the Justice Department for their recent business deals.
According to The New York Times, the two government agencies have agreed to launch an investigation together to look for potential anti-monopoly violations on the most influential AI tech companies.
One of the probable focuses of the investigation would be the recent hiring spree from OpenAI, Microsoft, and Google amid reports of the companies employing "acquihire" strategies to bypass regulatory requirements for a full acquisition.
Related Article: Microsoft, NVIDIA, and OpenAI Face Antitrust Probe Over AI Deals
