Race to become the most valuable company continues; Microsoft again ahead of Nvidia, know Indian companies's condition
Nvidia: Nvidia, Microsoft, and Apple are in the race to become the world's most valuable company. Nvidia's shares fell by about 3.4% on Thursday, giving Microsoft back the title of the world's most valuable company. Apple is also giving tough competition to both these companies. Talking about Indian companies, they are still far behind in this matter.
Nvidia's stock dipped 3.4% on Thursday, reclaiming the status of the world's most valuable corporation. On Tuesday, Nvidia's market value exceeded that of Microsoft. The current share price of the corporation is $131.88. The company's market worth was $3.34 trillion at the time of market close, down nearly $91 billion from the previous day's close. Microsoft's market capitalization fell to $3.30 trillion throughout this time period. In afternoon trade, the shares were down 0.4% to $444.8.
Nvidia, Microsoft, and Apple are vying for the title of the world's most valuable firm. Apple, managed by Tim Cook, has a $3.22 trillion market value, and its stock shares were down 2.2% at $210.10.
On the other hand, Elon Musk said on his X social media platform on Wednesday that Dell and Super Micro are supplying server racks for his XAI startup's supercomputer, which will be used to expand the capabilities of its AI tool, Grok. Shares of Dell Technologies and Super Micro Computer fell 1% and 0.7%, respectively. Musk said earlier this year that it took about 20,000 Nvidia H100 graphic processing units to train the Grok 2 model and 100,000 Nvidia H100 chips would be needed for the Grok 3 model and beyond. Nvidia's stock price has nearly tripled so far this year. Super Micro's stock value has more than tripled in the same period, while Dell's stock has gained nearly 95%. The Philadelphia SE Semiconductor Index rose nearly 34% since its most recent decline in April and closed at a lifetime high on Tuesday.
Earlier on Wednesday, US technology giant Nvidia Corp overtook giants like Microsoft and Apple to reach the top of the global market-cap rankings. With a market cap of $3.335 trillion, Nvidia is now more valuable than even some of the largest global markets.
Nvidia's market cap has grown more than the total market cap of the Sensex in the year 2024. The total market cap of the Sensex was $1829 billion after the June 20 trading session. While Nvidia's market cap has increased by $2,112 billion in 2024 alone. In terms of market cap, Nvidia's market cap is more than the combined market cap of France, Canada, Germany, and Saudi Arabia. You can guess the size of Nvidia's market cap from the fact that among the top 100 companies with market cap, India's Reliance Industries (236.86 billion dollars) is ranked 46th, TCS (165.07 billion dollars) is ranked 77th and HDFC Bank (151.13 billion dollars) is ranked 90th.
