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NVIDIA Closes Above $135, Becomes World’s Most Valuable Company

Ryan Smith on June 18, 2024 5:40 PM EST - Posted in - GPUs - NVIDIA - Financial Results Thanks to the success of the burgeoning market for AI accelerators, NVIDIA has been on a tear this year. And the only place that’s even more apparent than the company’s rapidly growing revenues is in the company’s stock price and market capitalization.

NVIDIA’s ascension continues a trend over the last several years of tech companies all holding the top spots in the market capitalization rankings. As the demand for these products has spiked, NVIDIA has been scaling up accordingly, repeatedly beating market expectations for how many of the accelerators they can ship – and what price they can charge. But then it goes without saying that most 30-year-old tech companies aren’t tripling their revenue in a single year, placing NVIDIA in a rather unique situation at this time.

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