Nvidia runaway winner in market cap addition in May
2023.06.01 08:28
© Reuters. A Nvidia logo can be seen on one of their products on display at their headquarters in Taipei, Taiwan May 31, 2023. REUTERS/Ann Wang
(Reuters) – Nvidia (NASDAQ:) Corp’s market capitalisation jumped the most in May among the top 20 global companies by market value, adding $248 billion, with a majority of the gains coming in the last four sessions, according to Refinitiv data.
The chipmaker briefly joined the $1 trillion valuation club, as investors bet on its potential to become a major beneficiary of a boom in artificial intelligence following a revenue forecast that was more than 50% above the Wall Street estimate
The company’s shares are up 159% so far this year.
Graphic: Change in market cap in May –
Taiwan Semiconductor Manufacturing Co Ltd, a key manufacturer of Nvidia’s chips, also saw a big jump in its market cap last month.
Saudi Arabian Oil and Exxon Mobil Corp (NYSE:) were the biggest losers in terms of market cap, hit by a decline in oil prices last month.
Graphic: Top 20 companies in the world by market cap –
Apple (NASDAQ:) and Microsoft (NASDAQ:) led the list with the highest market capitalisation in the world.
