Chipmaker Nvidia is now the world’s most valuable company, unseating Microsoft as investors bet its AI dominance will remain unmatched for now. The chipmaker’s market value crossed $3.34 trillion on Tuesday, surpassing Microsoft's $3.32 trillion. Apple, which was unseated by both, has a market value of $3.27 trillion. Despite the gains, the trio are neck-and-neck.
Nvidia is also fresh off its 10-for-1 stock split, which began trading on June 10. Mutual fund managers and various exchange-traded funds are also adjusting for the split which could be contributing to the trading action. The shares were the most active in both the S&P 500 and Nasdaq Composite - both indices are hovering at fresh-record highs.
Source: News Formal (newsformal.com)
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