TechFlow news, on November 6, according to CompaniesMarketcap data, shares of AI chip giant NVIDIA rose 2.84%, reaching a market capitalization of $3.43 trillion, surpassing Apple's $3.38 trillion and Microsoft's $3.06 trillion, reclaiming its position as the world's most valuable publicly traded company.
Data shows that NVIDIA's stock has risen 9.5% over the past month and nearly 190% year-to-date, with current trading at $139.91 per share. Apple and Microsoft shares have yet to recover from late-October declines, primarily due to financial results and guidance falling short of expectations.
UBS forecasts that AI-related revenue will reach $420 billion by 2027, with a compound annual growth rate of 72%. Analysts believe ChatGPT represents an "iPhone moment" for the AI industry, and AI is expected to remain a key driver of global technology stocks throughout 2024 and the coming decade.
