Nvidia Corp’s relentless rally has propelled the semiconductor giant’s market capitalization over its mega-cap tech peers, helping it clinch the title of the world’s most valuable company as the popularity of artificial intelligence (AI) applications continues to soar.
The stock rose 3.5 percent to close at US$135.58 on Tuesday, putting the company’s market value at about US$3.3 trillion and catapulting it over those of Microsoft Corp and Apple Inc.
The top stocks have jockeyed all month for the pole position, with Nvidia finally edging past its big-tech peers.
Photo: AFP
Earlier in the month, Nvidia capped Apple by market value for the first time since 2002 and the two went back and forth in rankings in the past few days. Last week, Apple also overtook Microsoft to trade in the top spot briefly.
The ranking is yet another reminder that AI is the top focus of many investors. Nvidia is seen as the biggest and earliest beneficiary of the technology as it dominates the market with its highly sought-after chips that help power data centers running complex computing tasks required by AI applications.
Demand for its H100 accelerators is surging and helped drive up the chipmaker’s sales by more than 125 percent last year.
Microsoft is also seen as an early AI winner given its investment and partnership with OpenAI, which created the ChatGPT application.
Shares of Apple this week rallied after the iPhone maker finally unveiled its plan for using the technology.
“We believe over the next year the race to US$4 trillion market cap in tech will be front and center between Nvidia, Apple and Microsoft,” Wedbush Securities Inc analyst Daniel Ives wrote in a note.
Nvidia’s surging stock price has made its cofounder and chief executive officer, Jensen Huang (黃仁勳), one of the world’s richest people.
His net worth has climbed nearly US$75 billion since the beginning of the year to US$119 billion, putting him in 12th place on the Bloomberg Billionaires Index.
That is the biggest gain among his billionaire peers.
Investors, alongside Huang, say that Nvidia is more than just a chipmaker.
“They’re not just selling chips, they’re selling systems,” Baron Capital Inc vice president and portfolio manager Michael Lippert said in an interview, citing the company’s proprietary software and development ecosystem.
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
WARNING: From Jan. 1 last year to the end of last month, 89 Taiwanese have gone missing or been detained in China, the MAC said, urging people to carefully consider travel to China Lax enforcement had made virtually moot regulations banning civil servants from making unauthorized visits to China, the Control Yuan said yesterday. Several agencies allowed personnel to travel to China after they submitted explanations for the trip written using artificial intelligence or provided no reason at all, the Control Yuan said in a statement, following an investigation headed by Control Yuan member Lin Wen-cheng (林文程). The probe identified 318 civil servants who traveled to China without permission in the past 10 years, but the true number could be close to 1,000, the Control Yuan said. The public employees investigated were not engaged in national
ALL TOGETHER: Only by including Taiwan can the WHA fully exemplify its commitment to ‘One World for Health,’ the representative offices of eight nations in Taiwan said The representative offices in Taiwan of eight nations yesterday issued a joint statement reiterating their support for Taiwan’s meaningful engagement with the WHO and for Taipei’s participation as an observer at the World Health Assembly (WHA). The joint statement came as Taiwan has not received an invitation to this year’s WHA, which started yesterday and runs until Tuesday next week. This year’s meeting of the decisionmaking body of the WHO in Geneva, Switzerland, would be the ninth consecutive year Taiwan has been excluded. The eight offices, which reaffirmed their support for Taiwan, are the British Office Taipei, the Australian Office Taipei, the
CAUSE AND EFFECT: China’s policies prompted the US to increase its presence in the Indo-Pacific, and Beijing should consider if this outcome is in its best interests, Lai said China has been escalating its military and political pressure on Taiwan for many years, but should reflect on this strategy and think about what is really in its best interest, President William Lai (賴清德) said. Lai made the remark in a YouTube interview with Mindi World News that was broadcast on Saturday, ahead of the first anniversary of his presidential inauguration tomorrow. The US has clearly stated that China is its biggest challenge and threat, with US President Donald Trump and US Secretary of Defense Pete Hegseth repeatedly saying that the US should increase its forces in the Indo-Pacific region