{"id":33844,"date":"2024-06-06T09:17:13","date_gmt":"2024-06-06T09:17:13","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=33844"},"modified":"2024-06-06T09:17:25","modified_gmt":"2024-06-06T09:17:25","slug":"nvidia-joins-the-3-trillion-market-cap-club-surpassing-apple","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/06\/06\/nvidia-joins-the-3-trillion-market-cap-club-surpassing-apple\/","title":{"rendered":"Nvidia Joins the $3 Trillion Market Cap Club, Surpassing Apple"},"content":{"rendered":"<p><em><strong>By Emmanuel Ogbodo<\/strong><\/em><\/p>\n<p>Nvidia (NVDA) has achieved a significant milestone by joining the exclusive $3 trillion market cap club, becoming only the third company to reach this mark after Apple (AAPL) and Microsoft (MSFT). The stock surged by 5% yesterday, propelling Nvidia ahead of Apple to become the second most valuable company in the US stock market, with Microsoft maintaining its lead.<\/p>\n<p>Wednesday&#8217;s rally in Nvidia&#8217;s stock was part of a broader uplift in tech shares. The rise was fueled by softer US economic data and a drop in Treasury yields, which bolstered sentiment that the Federal Reserve might lower interest rates as early as next month.<\/p>\n<p>Nvidia has become a key figure in the AI sector, especially since the launch of OpenAI\u2019s ChatGPT in late 2022. The company\u2019s stock has seen remarkable growth, with a 140% increase this year and a 200% increase over the last year. Over the past five years, Nvidia shares have risen by more than 3,300%, vastly outperforming the Nasdaq\u2019s returns of 14%, 29%, and 126% over the same periods.<\/p>\n<p>This week\u2019s rally was partly driven by CEO Jensen Huang\u2019s announcement of upcoming products. Nvidia plans to launch Blackwell Ultra, a more powerful version of its Blackwell chip, in 2025, and an AI chip platform called Rubin in 2026, with an Ultra version of Rubin slated for release in 2027.<\/p>\n<p>Nvidia is a crucial partner for tech giants like Amazon, Google, Meta, Microsoft, and Tesla, providing hardware for their cloud-based AI solutions. In the first quarter of the year, Nvidia reported adjusted earnings per share of $6.12 on revenue of $26 billion, representing increases of 461% and 262%, respectively, compared to the same period last year. The company&#8217;s Data Center revenue surged by 427% to $22.6 billion, making up 86% of its total revenue for the quarter. Meanwhile, its gaming segment posted $2.6 billion in revenue.<\/p>\n<p>Nvidia has also announced a 10:1 stock split effective June 7 and an increase in its dividend by $0.04 per share to $0.10 per share.<\/p>\n<p>Despite Nvidia\u2019s dominance, other players like AMD (AMD) and Intel (INTC) are also vying for a share of the AI chip market. AMD has announced that its MI325X and MI350 AI chips will be ready in 2024 and 2025, respectively, with the next-generation MI400 AI accelerator expected by 2026.<\/p>\n<p>Nvidia&#8217;s remarkable rise and strategic plans underscore its pivotal role in the tech industry, particularly in AI, and its continuing influence on the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Emmanuel Ogbodo Nvidia (NVDA) has achieved a significant milestone by joining the exclusive $3 trillion market cap club, becoming only the third company to reach this mark after Apple (AAPL) and Microsoft (MSFT). The stock surged by 5% yesterday, propelling Nvidia ahead of Apple to become the second most valuable company in the US [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":33850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[180],"tags":[],"class_list":["post-33844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=33844"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33844\/revisions"}],"predecessor-version":[{"id":33851,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33844\/revisions\/33851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/33850"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=33844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=33844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=33844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}