Nvidia surpasses oil giant in market value
As demand for artificial intelligence chips continues to rise, California-based chipmaker Nvidia has surpassed the Saudi Arabian oil company Saudi Aramco with a market value of 2.056 trillion dollars.
Nvidia's shares rose 4 percent today to 822.79 dollars, with the increase in the company's shares exceeding 66 percent since the beginning of the year.
Reaching a market value of 2.056 trillion dollars today, Nvidia has surpassed Saudi Aramco to become the world's third most valuable company.
Saudi Aramco's market value was calculated at 2.046 trillion dollars.
Thus, while Nvidia has reached the position of the world's third most valuable company, Saudi Aramco has dropped to fourth place.
IT HAD ALSO SURPASSED AMAZON AND GOOGLE
Microsoft continued to maintain its place in the top two with a market value of 3.087 trillion dollars, and Apple with 2.774 trillion dollars.
Last month, Nvidia had surpassed Amazon and then Google's parent company, Alphabet, in market value.
Driven by the increasing demand for artificial intelligence chips, the company's market value, which reached 1 trillion dollars in May last year, exceeded 2 trillion dollars for the first time last week.
News Source: AA
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