Nvidia has overtaken Microsoft to become the world’s most valuable company, with a market capitalization of $3.444 trillion, surpassing Microsoft’s $3.441 trillion.
The AI chipmaker’s stock has surged about 50% since early April, adding over $1 trillion to its market value as investors return to major tech stocks known as the “Magnificent Seven”.
The recent rise follows Nvidia’s strong quarterly earnings report on May 28, which showed continued revenue growth despite losing billions in sales to China due to a U.S. export ban.
The company has also overcome supply chain challenges to deliver its advanced Blackwell AI servers to big clients like Microsoft.
On Tuesday, Nvidia’s shares rose 2.8%, boosted by confirmation from its chip manufacturer TSMC that demand for AI chips remains strong. Additionally, CoreWeave, a key customer, secured a new data center lease that will be equipped with Nvidia chips once operational.
Nvidia’s stock has been volatile this year amid concerns about the sustainability of AI demand and the impact of U.S.-China trade tensions. Microsoft had held the top spot since early May, frequently trading places with Apple. Nvidia last held the number one spot in January.
Year to date, Nvidia’s stock is up about 5%, while Microsoft has gained nearly 10%. Apple shares have fallen roughly 19% this year.
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