Nvidia reclaimed the title of the world’s most valuable public company on Tuesday, overtaking Microsoft as investor demand for artificial intelligence technologies continues to soar.
The chipmaker’s stock climbed roughly 3% to close at $141.40, pushing its market capitalization to $3.45 trillion. Microsoft ended the day with a valuation of $3.44 trillion.
This latest rise marks another milestone in Nvidia’s extraordinary run, with shares up nearly 24% over the past month. It’s the first time the company has topped the global market cap rankings since January 24, having traded positions with Apple and Microsoft several times since last summer.
Tuesday’s gains were part of a broader rally in the semiconductor sector. Broadcom advanced 3%, Micron Technology rose 4%, and the VanEck Semiconductor ETF added 2%.
Nvidia recently reported adjusted earnings of 96 cents per share on revenue of $44.06 billion for its fiscal first quarter, reflecting a 69% jump from the same period last year. Its rapid expansion has been driven by overwhelming demand for its AI accelerators, which power advanced applications such as ChatGPT and are used by leading tech giants including Meta, Google, Amazon, and Microsoft.
Founded in 1993 to develop graphics chips for gaming, Nvidia has evolved into the backbone of the AI revolution, with its parallel processing designs proving essential for machine learning and generative AI workloads.
