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Nvidia Becomes World’s Most Valuable Company as AI Rally Marches On

Chipmaker has been vying with Apple, and Microsoft for the top spot.

The stock has rallied more than 160% so far this year

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Nvidia Corp.’s relentless rally has propelled the semiconductor giant’s market capitalization over its mega-cap tech peers, helping it clinch the title of the world’s most valuable company as the artificial intelligence wave continues.

Shares rose as much as 3.4% to about $3.3 trillion on Tuesday, catapulting it over Microsoft Corp. and Apple Inc. The top stocks have jockeyed for the pole position all month, with Nvidia edging past its big-tech peers.

Earlier in the month, Nvidia capped Apple by market value for the first time since 2002, and the two went back and forth in rankings in recent days. Last week, Apple also briefly overtook Microsoft to trade in the top spot.

Image: Nvidia