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21/06/24
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Microsoft Overtakes Nvidia as the Most Valuable Firm Globally
On June 20, Nvidia’s shares fell by almost 3.4 percent and was overtaken by Microsoft as the most valuable firm across the world. Nvidia’s market cap had surpassed Microsoft on June 18, having a stock market valuation of $3.34 trillion.
At press time, Nvidia’s shares remained on the downside by almost 3.54 percent at 130.78, while Microsoft was down by 0.14 percent at $445.70. The three companies currently trying to become the most valuable firm worldwide include Nvidia, Microsoft and Apple. Apple shares were also down by 2.15 percent at $209.68 with the iPhone maker’s market cap at $3.22 trillion.
Nvidia is dominating the AI-powering chip production space, prompting its rise. According to analysts, AI-powering chips are the “new gold or oil in the tech sector,” noting that the three firms will continue to compete fiercely to remain the most valuable firm globally.
Two days ago, X’s owner and CTO Elon Musk noted that both Dell and Super Micro are suppliers of server racks for his xAI startup’s supercomputer. Shares of Dell Technologies and Super Micro Computers are currently down 0.42 percent and 0.26 percent, respectively.
The servers produced by these firms contain Nvidia chips, allowing them to leverage the rise in demand for processors powering AI applications. A few months ago, Musk revealed that the Grok 2 model was trained using almost 20,000 Nvidia H100 graphic processing units and 100,000 Nvidia H100 chips would be required for Grok 3 model and others.
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