**: IT House.
IT Home reported on March 4 that the market value of chip manufacturer Nvidia hit a new high, surpassing Saudi Aramco (Saudi Aramco) and becoming the third largest listed company in the world by market value after Apple and Microsoft.
Photo source Pexels On Monday, Nvidia stock price ** 25% to 2$11 trillion (note from the IT House: about 1521 trillion yuan) after its share price crossed the $2 trillion mark for the first time on Friday**. According to Bloomberg, Saudi Aramco's market capitalization was 201 trillion dollars.
Behind the surge in Nvidia's stock price is its strong earnings performance, and Nvidia dominates the market for graphics chips for the complex computing tasks needed to power artificial intelligence applications, which major companies are scrambling to develop.
Since the beginning of this year, Nvidia's stock price has soared, rising by about 70% and increasing its market value by about $883 billion.
In contrast, Saudi Aramco's share price is up more than 5% year-to-date, as OPEC+ production cuts and a potential follow-on offering in Saudi Arabia weigh on the share price.
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