Markets

Nvidia climbs to world’s third most valuable company

Chip giant overtook Saudi Aramco on Friday trade, closing above the $2 trillion mark for the first time

Nvidia shares have skyrocketed on the back of blowout earnings that reaffirmed Wall Street’s optimism on the potential for artificial intelligence to reshape the technology industry. Picture: Getty

Nvidia has claimed another milestone by overtaking Saudi Aramco in market value, making the chipmaker the world’s third-most valuable public company after Apple and Microsoft.

The company ended Friday’s session at $2.06 trillion, closing above the $2 trillion mark for the first time. Meanwhile, Aramco’s value dipped to $2.03 trillion, according to data compiled by Bloomberg.

Nvidia shares have skyrocketed on the back of blowout earnings that reaffirmed Wall Street’s optimism on the potential for ...