SANTA JOSE (California), March 2 — Chip company Nvidia surpassed the US$2 trillion (RM9.4 trillion) market cap yesterday, becoming the third US company to do so, reported dpa news.
The deciding factor was a share price increase of 4 per cent to US$822.79.
Previously, only Apple and Microsoft had closed with a market value of more than US$2 trillion, while Google parent Alphabet broke the mark during trading. Microsoft is currently worth more than US$3 trillion, while Apple recently slipped below this mark again.
Originally developed for graphics cards, Nvidia’s technologies have proven their worth in the computing work involved in teaching artificial intelligence applications.
This is driving a rapid rise in Nvidia’s business — and its stock market value.
Since the beginning of the year, the share price has increased by more than 60 per cent. — Bernama-dpa
