Nvidia is no longer world's most valuable company as it lost the top spot to Microsoft after Jensen Huang-led company's shares declined 3.4%. Nvidia, whose market capitalization surpassed that of Microsoft earlier this week, lost around $91 billion to its last closing market value of $3.34 trillion. Microsoft's market value also slipped to $3.30 trillion as the three-horse race to become the world's most valuable company continues between Nvidia, Microsoft and Apple.
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Apple's market capitalization was at $3.22 trillion with its shares down 2.2% at $210.10 while Dell Technologies and Super Micro Computer fell 1% and 0.7%, respectively. Bot companies make servers equipped with Nvidia chips.
This comes as Elon Musk said earlier this year that training the Grok 2 model took about 20,000 Nvidia H100 graphic processing units and that the Grok 3 model and beyond would require 100,000 Nvidia H100 chips.
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What experts said on Nvidia stock?
Jake Dollarhide, chief executive officer of Longbow Asset Management, said as per news agency Reuters, “While Microsoft both spends and makes money in AI, Nvidia only makes money and lots of money and profits in AI. That's why you cannot spell Nvidia without AI.”
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Wedbush Securities analyst Dan Ives said, “This will be a tech market in which the strong will get stronger as AI technology helps Big Tech Stalwarts monetize their massive installed brs across the enterprise (Microsoft, Oracle, Dell, Amazon, etc) and consumer landscape (Meta, Apple, Google) over the coming years.”
{{/usCountry}}Wedbush Securities analyst Dan Ives said, “This will be a tech market in which the strong will get stronger as AI technology helps Big Tech Stalwarts monetize their massive installed brs across the enterprise (Microsoft, Oracle, Dell, Amazon, etc) and consumer landscape (Meta, Apple, Google) over the coming years.”
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