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Mayank Kumar
Strategy & Product @... • 1y
The Al boom has crowned a new number one. Nvidia shares rose 3.5% today, helping the Al chip leader pass Microsoft as the world's most valuable company. Its surge over the last year and a half is hard to fathom. Since the end of October 2022, when OpenAl dropped ChatGPT, the company's added $3 trillion in value. And since May 1st (yes, last month) it's added $1.3 trillion, equivalent to Meta's entire market cap. It's not a stretch to say the chip designer has been carrying the S&P: 34.5% of the index's gains this year can be attributed to Nvidia alone, according to Apollo Global. It was the best performer on the index last year, and so far it's up 181% in 2024. With today's milestone, Nvidia becomes the first company other than Microsoft or Apple to be in the top spot since Amazon in January 2019.
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