Nvidia becomes the world's most valuable company
California-based chipmaker Nvidia has surpassed Microsoft in market value to become the world's most valuable company.
AA
Nvidia's shares, traded on the Nasdaq stock exchange, gained over 3 percent as of 21:10 TSI on Tuesday, rising to 135.96 dollars per share.
With the rise in its shares, the company's total market value reached 3.34 trillion dollars.
Thus, surpassing Microsoft's market value of 3.32 trillion dollars, Nvidia claimed the title of the world's most valuable company.
As demand for artificial intelligence chips continues to rise, Nvidia's shares have gained over 170 percent in value since the beginning of the year.
Nvidia's market value exceeded 3 trillion dollars for the first time at the beginning of June.