Tech giant Microsoft closes in on graphics leader Nvidia in terms of market worth and company valuation.
With a valuation of US$4.4 trillion chipmaker Nvidia is the richest company in the world.
Microsoft, as per the latest valuation report, is the second company in history to surpass the market capitalisation of US$4 trillion.
Microsoft’s strong showing was driven by a surge in its share price following robust quarterly results, with accelerated growth reported in the financial quarter ending in June, WAM reported.
The company’s stock rose by as much as 5% at the start of trading in the United States, propelled by significant gains in artificial intelligence and cloud computing services.
Microsoft’s revenue increased by 18% in the most recent quarter, exceeding US$76 billion, while the company’s net profit rose by 25% to reach US$27 billion.
Headquartered in Redmond, Washington, Microsoft was founded in 1975 by Bill Gates and Paul Allen. Riding on the success of Windows operating system and MS Office application tool, the company became a household name.
Simultaneously marketing computer hardware, Microsoft of late expanded its activities to cloud computing, Internet and remote services, video gaming and other IT fields.
Today Microsoft is the largest software maker, one of the most valuable public U.S. companies, and one of the most valuable brands globally.
Microsoft had crossed the coveted $1 trillion valuation mark in April 2019 when it became the third public U.S. company to be valued at over $1 trillion.
On the other hand Nvidia, the world's most vlauable company as on today, started its journey in 1993. Headquartered in Santa Clara, California, the company was founded by Jensen Huang, Chris Malachowsky and Curtis Priem.
Nvidia develops Graphics Processing Units (GPUs), System on Chips (SoCs), and Application Programming Interfaces (APIs) for data science, high-performance computing, and mobile and automotive applications.
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