Market Update: Current Top Assets by Market Capitalization

Current Top Assets by Market Capitalization

NVIDIA surprises, recently surpassing Apple and Microsoft.

Less than two weeks ago, NVIDIA overtook Apple and took second place in the list of the most valuable companies by market capitalization. Recently, it surpassed Microsoft, becoming the most valuable public company in the world.

It's all about mining

At one point, the boom in GPU mining gave a significant boost to NVIDIA's market capitalization on its way to becoming the world's most valuable company.....CONTUNUE READING THIS ARTICLE

After the cryptocurrency Ethereum transitioned to the proof-of-stake algorithm, some miners switched to providing computing resources for AI. By 2023, the hype around ChatGPT and other generative AI products had grown to enormous proportions, causing a surge in orders for NVIDIA chips.

However, the company did not hold the top spot for long. A drop to 4th place followed shortly.

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