EC Launched Initiative to Link Tech Start-Ups with Investors
The European Commission launched an initiative to connect investors with technology start-ups.
Nvidia is the new most valuable company in the world! It has overthrown Microsoft from the top spot, as its processors play a central role in a scramble to dominate AI. Nvidia shares yesterday rose 3.5%, lifting its market capitalization to $3.335 trillion.
Microsoft's stock market value yesterday was $3.317 trillion, while Apple's stock slipped 1%, leaving its value at $3.286 trillion. Nvidia's surge over the past year became a symbol of an investor frenzy driven by optimism about AI technology.
Nvidia has also become the most traded company on Wall Street. Its daily turnover recently averaged $50 billion. Companies like Apple, Microsoft, and Tesla traded around $10 billion each on average. Nvidia now accounts for about 16% of all trading in S&P 500 companies.
Nvidia's stock has nearly tripled so far this year. An insatiable appetite for Nvidia's AI processors, viewed as far superior to competitors' offerings, has left them in tight supply. Many investors now view Nvidia as the greatest winner to date from surging AI development.
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