Nvidia surpassed a $3 trillion market cap, driven by the demand for its chips in the AI sector. It overtook Apple to become the second-largest public company after Microsoft. The stock has soared over 3,224% in the last five years, prompting a 100-for-1 stock split. Nvidia's growth is fueled by the high demand for its GPUs by tech giants like Google, Microsoft, Meta, Amazon, and OpenAI. The company reported a significant increase in sales, reaching $26 billion in the first quarter. Source: https://www.cnbc.com/2024/06/05/nvidia-briefly-passes-3-trillion-market-cap-on-back-of-ai-boom.html submitted by /u/NuseAI [link] [comments]
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