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Nvidia passes Microsoft in market cap to become most valuable public company
Nvidia shares have multiplied by more than nine-fold since the end of 2022, and the chipmaker surpassed Microsoft to become the most valuable public company.
For the most recent quarter, revenue in Nvidia's data center business rose 427% from a year earlier to $22.6 billion, accounting for about 86% of the company's total sales. But over the past two years, Nvidia shares have skyrocketed as Wall Street came to recognize the company's technology as the engine behind an explosion in AI that shows no signs of slowing. The split gives Nvidia a better shot at being added to the Dow, which is a price-weighted index, meaning that companies with higher stock prices — rather than market caps — have outsized influence on the benchmark.
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