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Nvidia is currently the second most valuable company in the world. Apple has since been overtaken, with Microsoft not too far away.

Microsoft is in the No. 1 spot with $3.15 trillion. Nvidia has also narrowly passed the magic 3 trillion mark, as has Apple. The latter, however, is worth around $10 billion less at the time of writing.

Above $1,200 per share, stock split approaches

Earlier we reported that Nvidia is on a huge upswing. With Q1 2024 revenue up 262 percent versus the same quarter last year, the value of a single Nvidia share had already passed the $1,000 mark. At the time of writing, the value is already $1,225 per share. However, this number will drop dramatically after the announced tenfold stock split.

A further increase in the value of the company itself was already in the offing. Just before Computex in Taipei this week, an Nvidia keynote took place, where the company already announced the next generation of GPUs after Blackwell, called Rubin.

Tip: Nvidia announces successor Blackwell chips, but competition tightens

Overvaluation?

Reuters today charted the trend lines of value for Microsoft, Apple and Nvidia. It shows that Apple has slipped a bit in recent months, although announcements around its own WWDC on June 10 may change that.

Continue reading: WWDC24: what will AI functionality on iOS 18 look like?

As for Nvidia, some doubts remain regarding further growth. The company’s meteoric rise in value appears to now be complete. Additional growth at anywhere near the same scale does not really seem possible, given its almost complete monopoly of AI infrastructure. In addition, Nvidia is tied to TSMC’s production capacity to realize its own chips.

Meanwhile, the competition is not sitting still. Both AMD and Intel are positioning themselves as the obvious alternative to Nvidia’s offerings. In doing so, they are only too happy to emphasize efficiency and competitive performance over Nvidia’s earlier H100 GPU, which has been on the market for two years.

This article originally appeared on May 28, but was rewritten on June 6 as Nvidia surpasses Apple’s value.

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