Nvidia reclaimed market value pole position in June
(Reuters) -Nvidia reclaimed the top spot among the most valued companies worldwide in June, as its shares were supported by renewed optimism over its leadership in artificial intelligence and expectations of surging demand for its AI chips.
The chipmaker's market value stood at $3.86 trillion at the end of June, about 4.3% higher than Microsoft Corp's $3.69 trillion valuation.
However, Nvidia's market value has yet to surpass Apple Inc's record high of about $3.92 trillion set in December 2024. Apple, with a market capitalization of $3.1 trillion, ranked as the third most valuable company at the end of last month.
Meta Platforms Inc, Broadcom Inc, and Amazon.com Inc saw their market values rise by 14%, 13.9%, and 7% respectively last month, reaching $1.86 trillion, $1.3 trillion, and $2.33 trillion.
The market value of Tesla Inc dropped 8.3% to $1.02 trillion last month, with sentiment hit by CEO Elon Musk's feud with U.S. President Donald Trump.
"We believe both Nvidia and Microsoft will hit the $4 trillion market cap club this summer and then over the next 18 months the focus will be on the $5 trillion club ... as this tech bull market is still early being led by the AI Revolution," said Daniel Ives, an analyst at Wedbush Securities.
(Reporting by Gaurav Dogra in Bengaluru;Editing by Vidya Ranganathan and David Evans)
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