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Most valuable global companies: Nvidia secures leading spot

1 year ago
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Most valuable global companies: Nvidia secures leading spot

In a historic milestone, Nvidia, a leading player in the chip-making industry, has outpaced tech giants like Microsoft and Apple to emerge as the world’s most valuable company. This feat, achieved on June 18, 2024 with a market capitalization of $ 3.335 trillion, secures Nvidia’s top position alongside other industry leaders like Google and Amazon.

Hakan Samuelsson, founder of Quantified Strategies, has a list of the most valuable companies in the world, revealing why they’re so dominant and how Nvidia trumped them all.

The World’s Most Valuable Companies

Rank

Company

Market Capitalization

Country

1

NVIDIA

$3.335 T

USA

2

Microsoft

$3.317 T

USA

3

Apple

$3.285 T

USA

4

Alphabet (Google)

$2.171 T

USA

5

Amazon

$1.902 T

USA

6

Saudi Aramco

$1.787 T

Saudi Arabia

7

Meta Platforms

$1.266 T

USA

8

TSMC

$931.97 B

Taiwan

9

Berkshire Hathaway

$880.93 B

USA

10

Eli Lilly

$847.24 B

USA

What Propelled Nvidia To The Top?

Nvidia’s remarkable performance can be attributed to its dominant position in supplying the graphics processing units (GPUs) that are essential for AI development. The soaring demand for its chips, as AI becomes more and more advanced, has fuelled its meteoric rise.

Initially known for producing chips for gaming, Nvidia has captured approximately 80% of the AI chip market. “This is why tech giants like Microsoft, Meta, and Google, who are all engaged in their own AI research, rely on Nvidia to supply these crucial components,” Hakan explains. As a result, Nvidia’s stock has surged by 182% this year alone, and it more than tripled in 2023.

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“While their GPUs are prized by gamers for the clarity and crispness they bring to video game graphics, they are also crucial to the AI training process known as ‘deep learning,’ allowing Nvidia to target both audiences,” Hakan says.

What Makes These Companies So Dominant?

Technologically, advancements in artificial intelligence, cloud computing, and semiconductor manufacturing have propelled companies like Nvidia and TSMC to prominence. They provide the critical infrastructure and components necessary for the shift towards more digital workplaces.

“Companies such as Microsoft, Apple, and Alphabet (Google) lead through their dominance in software, hardware, and digital services, leveraging their brand recognition and continuous innovation in areas like AI,” Hakan explains. “Amazon’s expansion into cloud services has similarly reshaped global digital infrastructure.”

Pharmaceutical giants like Eli Lilly benefit from the growing healthcare demands of an aging population while driving advancements in biotechnology. Economically, globalization, market consolidation, and strategic acquisitions have bolstered the market positions of conglomerates like Berkshire Hathaway.

“In surpassing Apple and Microsoft to become the world’s most valuable company, Nvidia has cemented its pivotal role in shaping the future of technology in Silicon Valley and beyond,” Hakan says. “The success of the world’s most valuable companies reflects not just financial performance but also their ability to navigate complex global challenges, adapt to technological shifts, and anticipate future trends.”

Tags: Microsoft and AppleMost valuable global companies: Nvidia secures leading spotNvidia
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