Nvidia, Microsoft and Apple all jockeyed this week for the title of world’s most valuable company as investors bet big on the future of AI.
'Never happened before': Nvidia , Microsoft , Apple about to rock big tech ETFs as the three jockey for the title of the world's most valuable company
"It is an anomalous event where you have three securities, a market capitalization greater than $3 trillion, all at the same time, all within one sector. That is unprecedented. Never happened before," Matthew Bartolini, head of SPDR Americas research at State Street Global Advisors, told FOX Business.
"Right now, because the fund hasn't rebalanced, Apple is the second-largest security. So that means you have to rebalance and sell Apple shares to buy Nvidia shares," Bartolini said. Last quarter, it posted a record $26 billion in revenue, a 262 per cent jump from the year-ago period.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nvidia: Chipmaker’s shares, market cap rise to beat Microsoft as world’s most valuable companyShares of the chipmaker climbed 3.5 per cent, lifting its market capitalisation above Microsoft, just days after it overtook Apple.
Read more »
Nvidia most valuable company: Chipmaker leaps over Microsoft for top spot the rise has been stunningIt’s no surprise Nvidia has become the world’s most valuable company, but it’s 43 per cent surge in just a month suggests emotion is driving the stock – and the broader market.
Read more »
Nvidia becomes world's most valuable company, toppling Microsoft amid pursuit of AI dominationTechnology multinational Nvidia has become the world's most valuable company, dethroning tech heavyweight Microsoft as its high-end processors play a central role in a scramble to dominate artificial intelligence computing.
Read more »
Microsoft, OpenAI and Nvidia investigated over possible breach of antitrust lawsAI firms scrutinised over regulations that oversee fair competition and aim to prevent monopolies
Read more »
AI dominance makes Nvidia now bigger than AppleOnce a niche tech firm for video game players, AI chip maker Nvidia is now the world’s second-most valuable company with a market cap of more than $US3 trillion.
Read more »
AI dominance makes Nvidia now bigger than AppleOnce a niche tech firm for video game players, AI chip maker Nvidia is now the world’s second-most valuable company with a market cap of more than $US3 trillion.
Read more »