NVIDIA Takes the Top Spot

There’s a new top dog on Wall Street, as Nvidia has become the most valuable company. 

Nvidia passed Microsoft for the top spot, after a 3.5% increase that pushed the company’s total market value further above $3 trillion - with a T. 

Exxon Mobil, and even Phillip Morris, were once the top dogs, before both being overtaken by Apple and Microsoft in more recent years. But now they have been passed by too. These developments illustrate the changes in society and the large importance on technology. 

The stock market was once controlled by oil companies and cigarette makers. Then by computer companies. And now, even those are being passed by the more advanced Nvidia, which works in AI.

Amongst other things, Nvidia creates AI chips, which have been the workhorses of this AI boom. The chips are essential in the creation of these sophisticated AI systems that are slowly becoming part of our everyday lives. This surge has been compared to that of the dot-com internet boom from about 20 years ago. 

Nvidia’s revenue has routinely tripled each quarter, as its stock is up nearly 174% this year. Nvidia is responsible for nearly a third of the S&P 500’s entire gain for the calendar year so far. 

(As a side note, when one company is leading such a charge in the stock market, it’s typically a bad sign, proving a fragile market. When more stocks are participating, it signals a healthier market. But we digress…)

In the meantime, enjoy the Nvidia ride into the future of civilization.