Nvidia has replaced Apple as the most valuable publicly traded U.S. company with as valuation of $3.62 trillion.
Hurry. Which American corporation is the most valuable publicly traded? You may assume that this is a simple question and immediately say, “Apple.” However, do you have enough faith in that response to risk some money? Okay, so I’m going to admit that Apple is wrong. Would you still feel comfortable placing a monetary bet if I let you choose again?
Before you respond, let me clarify that Microsoft is also a wrong answer. I can now see you returning your wallet to the pocket of your jeans. The corporation that is profiting from the AI boom is the most valuable publicly traded company in the United States. As of Friday’s closing, the AI chipmaker Nvidia is the most valuable publicly traded company in the United States, valued at $3.62 trillion. The latter’s stock is currently selling at $147.63, up a staggering 205.4% over the previous year. Nvidia’s stock has increased by an astounding 2,744.51% during the past five years.
Nvidia is worth more than the combined value of six well-known businesses.
The fact that Nvidia is valued at $3.62 trillion makes it more valuable than Netflix, UnitedHealth Group, Walmart, JPMorgan, Visa, and Eli Lilly put together should demonstrate how important the firm is.
As you may recall, Apple became the first publicly traded business in the United States to be valued at $1 trillion in 2018, surpassing Amazon in the process. The Cupertino team celebrated being the first to reach $2 trillion ahead of Microsoft nearly two years later. Apple became the first publicly listed business in the United States to attain a $3 trillion valuation in January 2022, completing the hat trick. Apple is currently valued at $3.43 trillion, while Nvidia is the closest to $4 trillion.
There is competition for Nvidia, and investors who wish to include AI in their portfolio in addition to Nvidia can purchase Alphabet, the parent company of Google. Google has a sophisticated AI model called Gemini. Being a major investor in OpenAI, the parent company of ChatGPT, Microsoft is another AI play. With Alphabet valued at $2.19 trillion and Microsoft valued at $3.14 trillion, both of those corporations are among the most valuable public enterprises in the United States. The decision of OpenAI to go public at some time in the future wouldn’t surprise us.
Analysts predict an 80% increase in quarterly revenue to $32.9 billion when Nvidia releases its third-quarter earnings on November 20. By taking Intel’s place as a member of the Dow Jones Industrial Average, the company’s shares also gained some credibility. This is the index of thirty stocks that make up “the market.” When someone on TV boasts about the market being up or down, they are talking about the Dow Jones Industrial Average.
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Nvidia enters the Dow 30 among tech heavyweights Apple, Microsoft, and Verizon.
Not only is it an honor for Nvidia to be included in the index, but it also signifies that AI has gained popularity as a tool and an investment. The significance of both Nvidia and AI is demonstrated by the fact that all 30 of the Dow Jones Industrial Average’s equities are well-known brands. The following stocks comprise the index:
- Apple
- Microsoft
- Walmart
- JPMorgan Chase & Co
- VISA
- UnitedHealth Group Incorporated
- HOME DEPOT, INC
- PROCTER & GAMBLE Co
- Johnson Johnson
- Salesforce
- Chevron
- COCA COLA
- Merck & Co., Inc
- CISCO SYSTEMS, INC
- MCDONALDS: MCD
- AMERICAN EXPRESS COMPANY
- INTERNATIONAL BUSINESS MACHINES CORPORATION
- CATERPILLAR
- GOLDMAN SACHS GROUP INC
- WALT DISNEY CO
- Amgen
- Verizon Communications Inc
- Honeywell International Inc
- NIK
- Nvidia
- BOEING
- 3M
In case you were wondering, Apple replaced AT&T as a member of the DJIA in March 2015. The only publicly traded American companies valued at more than $3 trillion are Apple, Microsoft, and Nvidia; all three are now included in the Dow Jones Industrial Average.
In addition to creating AI chips, which are manufactured by top contract chip maker TSMC, Nvidia rose to prominence as the top creator of GPU chips for gaming PCs and data center PCs. Tablets and gaming devices use its mobile GPUs.