Nvidia (NVDA) Leaps Aramco to Be World’s Third Most-Valuable Company
Mar 04, 2024 - bloomberg.com
Nvidia Corp. has surpassed Saudi Aramco in market value, becoming the world's third-most valuable public company after Apple Inc. and Microsoft Corp. The chipmaker's value rose 2.5% on Monday, reaching $2.11 trillion, after closing above the $2 trillion mark for the first time on Friday. Meanwhile, Aramco's value dipped to $2.01 trillion.
This milestone comes after Nvidia's stock rallied 70% in 2024, adding $883 billion in value. The company's valuation now trails only Apple and Microsoft in terms of market capitalization. This marks the first time a chipmaker has reached a $2 trillion valuation.
Key takeaways:
Nvidia Corp. has overtaken Saudi Aramco in market value, becoming the world's third-most valuable public company after Apple Inc. and Microsoft Corp.
The company's value rose 2.5% on Monday, reaching $2.11 trillion.
This comes after Nvidia closed above the $2 trillion mark for the first time on Friday.
Meanwhile, Aramco's value dipped to $2.01 trillion, according to data compiled by Bloomberg.
