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( Ovichnnews USA ) - In a significant market shakeup, American tech firm Nvidia has officially overtaken Apple to secure its position as the world's second most valuable publicly traded company. The AI microchip manufacturer's steady ascent in market value has propelled its shares to surpass the impressive milestone of $3 trillion (£2.34 trillion).
Following a remarkable year marked by sustained growth and investor confidence, Nvidia's shares surged by 5% on Wednesday, with each share now commanding a price tag of $1,224.40 (£957). This substantial increase represents a notable jump from the worth of $386.54 (£302) per share observed a year ago, underscoring the growing appeal of Nvidia as a prime investment destination within the flourishing AI sector. The surge in Nvidia's market capitalization can be partly attributed to the pronounced interest from investors seeking opportunities within the rapidly expanding AI landscape. With tech companies, notably industry giants like Microsoft and Apple, actively pursuing AI integration across their product portfolios, Nvidia's specialized expertise in AI microchip development has propelled its prominence and financial standing within the competitive market environment. Nvidia's unprecedented market valuation surge also follows a strategic announcement regarding an upcoming "stock split," scheduled to take effect on Friday. This corporate move aims to broaden accessibility for potential investors by increasing the number of available shares while concurrently reducing the individual share value. Founded in 1993 in California, Nvidia has established itself as a dynamic force in the tech industry, consistently innovating and integrating cutting-edge machine learning capabilities into its range of products. Headquartered in Santa Clara, California, Nvidia's rise to become the world's second most valuable company underscores its enduring commitment to technological advancement and market leadership within the AI sector.
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