Kathmandu. Chip maker Nvidia has overtaken tech giant Microsoft to become the world’s most valuable company.
Nvidia has set this record due to the increase in share prices. Nvidia’s market capitalization has reached $ 3.76 trillion due to the increase in share prices. Microsoft is in second place with a market capitalization of $ 3.65 trillion.
IPhone maker Apple is in third place. Apple has a market capitalization of $3.01 trillion.
Nvidia co-founder and CEO Jensen Huang has been showered with money. He earned $5.54 billion in 24 hours. With this earnings, he has reached the limit of joining the special elite club (top 10) of the world’s richest.
The increase in Jensen’s net worth is due to an increase in the company’s share price. Shares of Nvidia jumped on Wednesday.
According to the Bloomberg Billionaires Index, Jensen’s net worth has reached $ 135 billion with revenue of $ 5.54 billion in the last 24 hours. With this wealth, he has reached the 11th position in the list of the world’s richest people. He is just one step away from joining the Elite Club.
Sergey Brin is at number 10. His net worth is $146 billion.
Shares of Nvidia rose more than 2.6 percent at the start of trading on Wednesday. It also surpassed the previous record of $149.43 set in January. It opened at $149.28 and closed at a new level of $154.31. The company’s share price has increased by more than 4 percent.
Micron (MU)’s quarterly earnings report is one of the main reasons for Nvidia’s rise in share prices. Microns make a high-bandwidth memory (HBM) chip. These chips are used in Nvidia’s AI accelerator.
