Global Market Cap Giant NVIDIA Closes In on Apple

Data on Companies' Market Capitalization shows Microsoft as the company with the largest global market capitalization, reaching US$3.14 trillion on Thursday morning (June 7, 2024).

However, the stock price of the company founded by Steve Jobs weakened by 0.24% at the close of trading yesterday.

Apple is in second place with a valuation of US$3 trillion. Interestingly, this position was briefly held by NVIDIA, which now has a market capitalization of US$2.92 trillion, placing it third.

Previously, according to *Katadata*, Nvidia's market capitalization reached US$3.01 trillion on Thursday (June 6, 2024). Apple's market capitalization last reached US$3 trillion after its stock rose by 0.8%.

The surge in Nvidia's market value, which briefly surpassed Apple's, marks a shift in Silicon Valley. Nvidia's stock even rose to a record high on Wednesday (June 5, 2024), resulting in a valuation of US$3 trillion (Rp48.6 quadrillion) for the AI-based chip maker.

"Nvidia is making money from AI right now, and companies like Apple and Meta are spending money on AI," said Jake Dollarhide, chief executive at Longbow Asset Management, as quoted by *Reuters* on Wednesday (June 5, 2024).

The fourth-largest company by market capitalization is Alphabet, Google's parent company, with a capitalization of US$2.18 trillion. Fifth is Amazon at US$1.9 trillion.

Saudi Aramco, the oil giant, occupies the sixth position with US$1.82 trillion.

This is followed by Meta Platforms (Facebook's parent company) at US$1.26 trillion; Berkshire Hathaway at US$880.67 billion; TSMC at US$842.11 billion; and Eli Lilly at US$793.58 billion.

(See also: [Even After Decline, Apple Remains the Second Largest Company Globally as of April 2024](https://databoks.katadata.co.id/datapublish/2024/04/18/meski-turun-nilai-perusahaan-apple-tetap-terbesar-kedua-global-per-april-2024))