TECH - Nvidia Briefly Overtook Microsoft As World's Most Valuable Company Last Week But Since Then Jensen Huang-Led AI Stalwart Has Lost Nearly $500B Investor Money: Here's What Happened | Benzinga
Last week, Nvidia Corp. (NASDAQ:NVDA) momentarily outpaced Microsoft Corp. (NASDAQ:MSFT) to become the world’s most valuable company. However, the top spot was short-lived and the chip-making behemoth has since seen a staggering loss of investor money.
Nvidia’s valuation soared to a high of $3.34 trillion last week, only to plummet by over $500 billion when markets closed on Monday.
What Could Be The Driver: The reason could be the skittish investors, who are now left wondering if the chip-making giant — whose shares had been soaring due to its dominance in the AI market — has reached its peak.
And, to add to that the CEO Jensen Huang at the company’s annual shareholder meeting on Wednesday did little to assuage investor concerns about Nvidia’s capacity to stave off competitors and retain its leading position.
When Huang was asked about how Nvidia is addressing the tight market for semiconductor manufacturing capacity, he stated that the company "has the expertise and scale to develop a resilient supply chain." He added that Nvidia could enter into long-term ...