JAKARTA Nvidia managed to reclaim the top position as the company with the highest market value in the world in June. This was driven by new optimism towards its leadership in the artificial intelligence (AI) sector and expectations of a surge in demand for the AI chips they produced.
Nvidia's market value was recorded at 3.86 trillion US dollars (Rp62.6 quadrillion) at the end of June, or about 4.3% higher than Microsoft, which is in second place with a market value of 3.69 trillion US dollars.
However, the market value of Nvidia still does not exceed the all-time high Apple has recorded in December 2024, which is US$3.92 trillion. Apple itself is now in third place with a market capitalization of US$3.1 trillion at the end of June.
Several other major tech companies also recorded significant growth last month:
Meta Platforms Inc rose 14% to $1.86 trillion.
Broadcom Inc rose 13.9% to 1.3 trillion US dollars.
Amazon.com Inc. rose 7% to 2.33 trillion US dollars.
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In contrast, Tesla Inc experienced a market decline of 8.3% to 1.02 trillion US dollars, influenced by the conflict between CEO Elon Musk and US President Donald Trump which caused investor sentiment to weaken.
Analysts from Wedbush Securities, Daniel Ives, said, "We believe both Nvidia and Microsoft will reach a US$4 trillion market capitalization milestone this summer, and in the next 18 months the focus will shift to the club of US$5 trillion, as the bullish technology market led by the AI Revolution is still in its early stages."
With the growing dominance of AI, tech giants are likely to continue to compete in the world's biggest market value race.
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