Nvidia, a company that makes chips, is now the world’s second most valuable company, worth over $3 trillion.
Their shares went up by 5.2% recently, making them more valuable than Apple. Microsoft is still the most valuable company. Nvidia’s success is largely due to the popularity of its graphics chips, which are used in artificial intelligence (AI) technology.
Their revenue has increased by more than 260% in the past year because big tech companies are using AI more and more. Nvidia’s shares have more than doubled this year after tripling in value in 2023.
They also announced a 10-for-1 stock split to make it easier for people to buy their shares. On the other hand, Apple is struggling with slow iPhone sales in China and is seen as falling behind in AI. Their shares have only gone up by about 5% this year.