June 18 () –
Nvidia’s relentless rally has propelled the semiconductor giant’s market capitalization above its mega-cap tech peers, helping it take the title of the world’s most valuable company as the artificial intelligence wave continues.
On Tuesday, the stock rose as much as 3.4% to around $3.3 trillion, catapulting it above Microsoft and Apple. The main stocks have competed for first position throughout the month, with Nvidia surpassing its Big Tech counterparts.
At the beginning of the month, Nvidia surpassed Apple in market value for the first time since 2002, and in recent days both stocks have alternated positions. Last week, Apple also overtook Microsoft to briefly take the top spot.
Nvidia’s rapid rise to the top has been record-breaking, as the company is one of the few to demonstrate significant revenue growth thanks to AI. As of the latest close, the stock is up more than 160% in 2024, adding more than $2 trillion to its market capitalization.
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