Nvidia tops Microsoft as the most valuable public company
CBSN
Nvidia on Tuesday vaulted past Microsoft to become the most valuable publicly listed company in the world, highlighting its place at the forefront of Big Tech.
Nvidia's stock price rose nearly $5, or 3.7%, to $135.77, valuing the AI chip maker at $3.33 trillion, compared with $3.31 trillion for Microsoft and $3.29 trillion for Apple, which boasted the largest market capitalization until being surpassed by Microsoft earlier this year. A year ago, Nvidia's market capitalization had just crossed the $1 trillion threshold.
The company's stock, which has shot up more than 174% this year, was trading at more than $1,200 earlier this month until Nvidia completed a 10-for-1 stock split on June 7 in order to make the shares more affordable.
For nearly two decades, there's been an effort to change the way the U.S. has always elected its presidents by creating a workaround to the Electoral College, the indirect popular election process that's been used in every American presidential election in history. A collection of states is now a little closer than it was four years ago to choosing a president by popular vote, after Maine signed legislation in April to join the effort.
President Biden's administration is planning to soon issue a regulation to cement the sweeping asylum restrictions it enacted at the southern border over the summer, two U.S. officials told CBS News, describing changes that would make it far less likely for the strict rules to be lifted in the near future.
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