Nvidia's stock price rose 5%, hitting a new historical high and surpassing Apple to become the second highest market cap company globally, only behind Microsoft. With a monopoly position in the AI chip field, Nvidia's stock price has risen over 147% this year and nearly 240% last year.
On June 6th, Cailian Press reported (Editor Xia Junxiong) that on Wednesday, June 5th, Eastern Time, the stock price of AI leader NVIDIA soared 5%, hitting a new historic high, with a market cap exceeding 3 trillion US dollars, surpassing Apple and becoming the second highest market cap company in the world, second only to Microsoft.
As of the close, NVIDIA's stock price rose 5.16% to $1,224.4 per share, with a market cap of $3.01 trillion. This is the first time that NVIDIA has surpassed the 3 trillion US dollar mark, making it the third company to achieve this milestone after Apple and Microsoft.
Apple's stock price rose 0.78%, and its market cap returned to 3 trillion US dollars. The company first achieved this achievement in July last year.
Microsoft's stock price rose 1.91%, with a market cap of $3.15 trillion, still the highest market cap company in the world.
The US stock market rose on Wednesday, with technology stocks generally rising. Soft US economic data boosted the market, and investors began to anticipate the possibility of the Fed cutting interest rates as early as July.
With a monopoly position in the field of AI chips, NVIDIA's stock price has risen more than 147% since the beginning of this year, and nearly 240% cumulatively last year.
Since the first quarter financial report exceeded expectations in May, NVIDIA's stock price has risen more than 24%. The company also announced a 1-for-10 stock split plan, which will be implemented on June 7th local time.
The financial report shows that NVIDIA's revenue in the first quarter of this year was $26 billion, and the adjusted earnings per share were $6.12, an increase of 262% and 461% respectively from the same period last year.
Last Sunday, NVIDIA CEO Huang Renxun announced at an industry conference that the company will launch the Blackwell Ultra AI chip in 2025, the next generation AI platform Rubin in 2026, and Rubin Ultra in 2027, and the update rate will be "once a year", breaking Moore's Law.
In recent years, Apple and Microsoft have taken turns becoming the most valuable company in the world, but NVIDIA may break the situation of the "two-person turn". As early as the beginning of this year, analysts predicted that the competition between Apple and Microsoft may evolve into a competition for the second place, and NVIDIA, the biggest beneficiary of the AI trend, will disrupt the situation.