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Nvidia Corp (NASDAQ:NVDA) became the world’s most valuable listed company on Tuesday, driven by the surging demand for its AI chips. The company’s technology is pivotal in developing advanced AI systems that generate text, images, and audio with minimal input, leading to the tech boom.
Nvidia’s rise marks the first time a company other than Microsoft Corp (NASDAQ:MSFT) or Apple Inc (NASDAQ:AAPL) has held the title of the largest company since February 2019, the Wall Street Journal reports.
Nvidia’s revenue soared to $26 billion in the latest quarter, more than triple the same period a year earlier. The company’s stock has more than tripled in value over the past 12 months, making it the best performer in the S&P 500 in 2023. Nvidia also recently split its shares.
Meanwhile, key Nvidia supplier Taiwan Semiconductor Manufacturing Co (NYSE:TSM) is weighing a new method of advanced chip packaging to meet the growing AI-driven demand for computing power.
TSMC is collaborating with equipment and material suppliers on this new technique. The innovation involves using rectangular panel-like substrates instead of the traditional round wafers, enabling more chip sets per substrate, the Nikkei Asia reports.
The transition will require extensive development efforts and equipment upgrades.
Semiconductor analysts maintained Nvidia as the key AI beneficiary citing potential from Hopper platform and Blackwell B100/200 and 3nm/Rubin the company announced at Computex for 2026.
Nvidia stock gained close to 210% in the last 12 months. Investors can gain exposure to the stock via Vanguard S&P 500 ETF (NYSE:VOO) and Invesco QQQ Trust, Series 1 (NASDAQ:QQQ).
Price Action: NVDA shares traded higher by 2.62% at $139.13 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
