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Nvidia runaway winner in market cap addition in May

Published 06/01/2023, 08:16 AM
Updated 06/01/2023, 08:21 AM
© 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:NVDA) 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 - https://www.reuters.com/graphics/GLOBAL-MARKETS/gkplwyzmkvb/chart.png

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:XOM) were the biggest losers in terms of market cap, hit by a decline in oil prices last month.

© 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

Graphic: Top 20 companies in the world by market cap - https://www.reuters.com/graphics/GLOBAL-MARKETS/akveqwrgqvr/chart.png

Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) led the list with the highest market capitalisation in the world.

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