The American multinational tech corporation best known for its GPUs, Nvidia, is now the world's largest company with a significant surge this late in the year, seeing a valuation of $3.73 trillion in the current market. Nvidia's successful climb to the top is credited to its artificial intelligence (AI) offers, and this includes its foundational model, as well as renowned GPUs that help run companies' models.
In this recent rise to the top, Nvidia has beaten Apple yet again as the world's largest company, with the previous 'most valuable company' starting late on its artificial intelligence offers that only arrived this year.
Nvidia is Now the World's Largest Company Valued at $3.73 Trillion
TechCrunch reported that Nvidia is now the world's largest company and it is touting its $3.73 trillion valuation when the market closed earlier today, overtaking Apple who previously held the top spot. It remains unknown how long Nvidia will maintain its current standing as it has been seen throughout this year that it had a push-and-pull relationship with Apple on the charts.
Apple is currently valued at $3.38 trillion and has seen a massive gap from Nvidia's current value in the market. Previously, Nvidia surpassed Apple last June to be the world's largest company, but it only held this recognition for one day.
It was revealed by Bloomberg that Nvidia's massive jump today saw a skyrocketing 850 percent growth since late 2022, with the company facing significant successes as it welcomed the current advancements in tech.
Nvidia's Climb to the Top is Thanks to its Focus on AI
Nvidia's growth and current state are credited to its renowned focus on artificial intelligence, with the company focusing on its development of AI chips and GPUs for running the technology for many brands and clients. Not only that, Nvidia also developed its large language model (LLM) that is available for its partners to access.
It is known that top AI companies are using Nvidia's AI chips for running and developing the models, with the likes of Tesla, xAI, and more. Most recently, OpenAI has been one of its top customers, but the company switched to AMD chips and soon developed its own.
Nvidia's Recent Successes With AI
Before Nvidia released its first AI model to accompany its processors and GPUs in powering computers and other devices to help develop and run artificial intelligence, it was the world's top brand for AI chips. Because of this move, Nvidia propelled itself as one of the top companies for all things artificial intelligence, and it also helped the company inch closer to Apple's valuation.
Earlier this year, Nvidia unveiled its humongous performance in the market after seeing a 628 percent increase in its profits, also giving the company a 268 percent revenue growth and one of its top-performing quarters. Because of this, the company also saw a four percent jump in its stocks, as well as $6.12 earnings per share, all crediting its success in its newfound focus on AI.
The company also ramped up its development of its AI chips offered to clients and partners in the industry, promising that it can deliver one new chip per year, looking to deliver new experiences that promote artificial intelligence. Nvidia is now at the apex of the world's largest companies after surpassing Apple's massive valuation, all thanks to its artificial intelligence developments that helped boost its significance.
