In late June, there was significant market capitalization growth for companies primarily focused on artificial intelligence, particularly chipmakers. In fact, Nvidia briefly surpassed Microsoft to become the world's most valuable company. Nvidia's shares experienced a substantial increase of up to 27% during the month, driving its market capitalization to $3. 34 trillion.

However, it later gave up some of its gains due to profit booking and concerns surrounding its high valuations. Microsoft's market capitalization saw a 7. 6% increase, while Apple Inc's surged by 9. 6% over the past month. Additionally, Amazon. com Inc reached a market value of $2 trillion, becoming the fifth U. S. company to achieve this milestone, buoyed by the enthusiasm surrounding AI. Broadcom Inc also experienced a significant jump in market capitalization, approximately 20% higher, after increasing its annual revenue forecast for AI-related chips by 10% and announcing a stock split to seize the opportunity presented by this year's rally in its shares. (Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Anil D'Silva)