Santa Clara, California – Nvidia has overtaken Microsoft as the most valuable company globally, with a market capitalization of $3.34 trillion, surpassing Microsoft’s $3.32 trillion. This achievement comes after Nvidia reached a $3 trillion market cap for the first time in early June, surpassing Apple. The company, known for its semiconductors powering AI-related computing tasks at large data centers, has seen its shares surge over 200% in the past year.
The CEO of Nvidia, Jensen Huang, has been instrumental in the company’s success, along with the AI revolution led by Nvidia. According to Dan Ives, managing partner at Wedbush Securities, it is now a race to a $4 trillion market cap, with Nvidia, Microsoft, and Apple competing for the top spot. Huang, who co-founded Nvidia in 1993 along with Chris Malachowsky and Curtis Priem, has played a significant role in the company’s growth.
Nvidia’s success has been reflected in the stock market, with about 34.5% of the S&P 500’s market cap gains this year attributed to Nvidia alone. The company’s consistent performance was evident in its recent financial results, where revenue for the quarter ended April 28 reached $26 billion, up 18% sequentially and 262% year-on-year, surpassing the company’s outlook of $24 billion.
One key figure behind Nvidia’s financial success is CFO Colette Kress, whose leadership has been pivotal in maintaining strong relations with Wall Street and supporting Jensen’s vision for the company. Kress, who joined Nvidia in 2013 after a lengthy finance career in major technology companies, has been praised for her role in Nvidia’s growth.
Kress’s experience in scaling companies and implementing digital solutions has been beneficial as Nvidia has grown substantially over the years. Her insights into adapting processes and functions to accommodate rapid growth have been crucial in navigating Nvidia’s evolution into the largest company in the world. Her impact on the company’s financial strategy and operations cannot be understated.
As Nvidia continues to dominate the market and push towards even greater milestones, the company’s leadership team, including Jensen Huang and Colette Kress, will play a vital role in shaping its future trajectory. With the tech industry constantly evolving, Nvidia’s position at the forefront underscores the importance of strong leadership and strategic financial management in driving success.