- By Aditya Pratap Singh
- Fri, 21 Jun 2024 10:55 AM (IST)
- Source:JND
Nvidia-Microsoft Market Cap: Nvidia has lost the spot of the world's most valuable company, as Microsoft regained its place after the stock of the Jensen Huang-led chip manufacturing company plunged 3.4%. Nvidia, which became the world's most valuable firm by surpassing the m-cap of Microsft, lost around $91 billion compared to its last closing market value of $3.34 trillion. Microsoft's market capitalization also fell to $3.30 trillion. The three-way race between Nvidia, Microsoft, and Apple to become the world's most valuable company continues.
Apple's market capitalization was $3.22 trillion, with its shares down 2.2% to $210.10, while Dell Technologies and Super Micro Computer fell 1% and 0.7%, respectively. Robotics companies build servers equipped with Nvidia chips.
These fluctuations are attributable to the intense rivalry between Nvidia, Microsoft, and Apple, who are all vying to be the world's most valuable firm. Apple, led by CEO Tim Cook, had a market capitalization of $3.22 trillion, with its shares falling 2.2 percent to $210.10 during the same afternoon.
Also Read: Microsoft Becomes World's Most Valuable Company Again, Surpasses Nvidia
Adding to the dynamic developments in the technology industry, Elon Musk announced via his social media platform X on Wednesday that Dell and Super Micro are supplying the server racks for his startup's supercomputer, xAI. According to Musk, this supercomputer will improve the capabilities of xAI's artificial intelligence tool, Grok.
Following Musk's announcement, Dell Technologies and Super Micro Computer saw their shares decline by 1% and 0.7%, respectively. These companies manufacture servers equipped with Nvidia chips, taking advantage of the increasing demand for processors that are important for artificial intelligence applications.