Global semiconductor giant Nvidia claims the title as the world's most valuable corporation.
Tech giant Nvidia hit a significant milestone at the stock exchange approximately two weeks ago, joining the exclusive club of companies with a market cap over $3 trillion. Apart from Nvidia, Apple and Microsoft are the only other companies who've achieved this feat.
In May, Nvidia showcased its impressive financial performance yet again. The business income surged more than seven times compared to the previous fiscal year, reaching an impressive $14.9 billion. Meanwhile, the revenue nearly quadrupled, reaching $26 billion.
Two years back, Nvidia was primarily recognized by the general public - if at all - as a producer of graphics card chips for gaming PCs. However, their semiconductors have found use in various cutting-edge AI applications. With the AI craze taking off, Nvidia began its meteoric rise.
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Nvidia's market capitalization currently surpasses that of Microsoft and Apple, making it the most valuable corporation in the tech sector. As of now, only three companies globally have a market cap over $3 trillion - Nvidia, Microsoft, and Apple. The US chip manufacturer Nvidia's impressive financial growth is a testament to its transformation from a gaming graphics card producer to a key player in the AI industry.
