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Nvidia's shares nosedive to wipe $430 billion off its value

·1 min

Nvidia Loses Crown as World’s Most Valuable Listed Company

Nvidia has lost its position as the world’s most valuable listed company after its stock experienced a significant plunge of almost 13% in the past week. The US chipmaker’s market capitalization, which briefly exceeded Microsoft’s, dropped by $430 billion, bringing its current worth to $2.91 trillion. Nvidia now sits in third place globally, behind Microsoft and Apple, which have market caps of $3.33 trillion and $3.19 trillion, respectively. The recent decline in Nvidia’s stock suggests a cooling off of investors’ excitement over the company’s anticipated role in the artificial intelligence revolution.