Nvidia becomes the most valuable company in the world

Nvidia, best known in the gaming and crypto community for its proprietary graphics cards, now holds the title of "most valuable publicly traded company in the world." Yesterday, Tuesday, Nvidia's shares rose 3.6 percent, increasing its market capitalization to $3.34 trillion. This means that Microsoft, which is "only" worth US$3.32 trillion, must now also concede defeat.

By comparison, Bitcoin currently has a market capitalization of $1.29 trillion. Since the beginning of the year, Nvidia's shares have risen spectacularly by 170 percent, leaving BTC far behind.

Just five years ago, Nvidia's market capitalization was a modest USD 100 billion. Just recently, the company reported that revenue in Q1 was up 18 percent from the previous quarter and 262 percent from the year before.

Since the end of 2022, Nvidia's share price has increased more than ninefold. The rise goes hand in hand with the rise of generative artificial intelligence. Nvidia controls about 80 percent of the market for AI chips used in data centers.

Nvidia's AI-powered data center division generated US$22.6 billion in revenue in the first quarter. Compared to a year earlier, that is an increase of 427 percent.

Founded in 1991, Nvidia initially focused on chips for 3D gaming. Later, the company also became known as a chip manufacturer for Bitcoin mining and cloud gaming subscriptions.