overtaking Saudi Aramco! Nvidia (NVDA.US) becomes the third highest market value listed company in the world

Nvidia, the giant in artificial intelligence chips, now has a market value surpassing Saudi Aramco, making it the third largest publicly traded company globally, behind Microsoft and Apple. Data shows that as of last Friday's closing on the US stock market, Nvidia's market value reached $2.06 trillion, crossing the $2 trillion mark for the first time, while Saudi Aramco's market value dropped to $2.03 trillion. Nvidia's explosive performance growth once again confirms Wall Street's optimistic view on the potential of AI reshaping the tech industry, driving Nvidia's stock price surge. Following a more than 239% increase last year, Nvidia has maintained a strong upward trend this year, with a gain of over 66% year-to-date, adding approximately $834 billion in market value. Nvidia's financial report for the last quarter of fiscal year 2024 showed a 265% year-on-year revenue growth to $22.1 billion, well above market expectations of $20.4 billion; gross margin was 76%, reaching a historical high, also surpassing market expectations of 75.2%; net profit increased by a staggering 769% year-on-year to $12.3 billion, hitting a historical high. In terms of core business, revenue from data center business grew by 409% year-on-year to $18.4 billion, mainly driven by strong demand for large models, recommendation engines, and generative AI. Furthermore, Nvidia expects revenue for the first quarter of fiscal year 2025 to be $24 billion (plus or minus 2%), a 234% year-on-year increase, exceeding market expectations of $21.8 billion; projected gross margin for the first quarter is 76.3% (plus or minus 0.5%), also surpassing market expectations of 75.1%.