Market caps of the top-3 largest U.S. companies by value: Microsoft, Nvidia, Apple
Nvidia — the undisputed winner of the past year’s AI stock boom — passed Apple to become the second-most valuable public company as of Wednesday’s market close.
By the numbers: The chipmaker’s market cap passed $3 trillion for the first time, putting the company a hair above Apple and behind only Microsoft.
- Its stock, which has jumped more than 147% for the year, is the strongest force lifting the S&P 500.
The big picture: Nvidia’s profit margins are the envy of the corporate world — it made $14.9 billion of net income on revenue of $26 billion last quarter, Axios’ Felix Salmon writes.
- By contrast, Nvidia’s net income was just $0.7 billion in the final quarter of 2022.
- Nvidia produces top-of-the-line chips needed to train AI models and for other cutting-edge tech.
