Nvidia becomes world’s most valuable company

Nvidia is now the most valuable company in the world, having overtaken Microsoft to grab the number one spot.

Back in February we reported that Nvidia had become worth more than Alphabet (aka Google) and Amazon. Then, earlier this month, the GPU maker leapfrogged Apple into the number two spot

Now Nvidia has hopped over the final hurdle, surpassing Microsoft to become the most valuable company in the world.

At the close of trading on Tuesday, Nvidia’s stock had risen 3.5% to $136, pushing its value to $3.34 trillion. That places it beyond Microsoft’s $3.32 trillion and Apple’s $3.29 trillion, while Google languishes on $2.17 trillion.

It’s been a meteoric rise for the American GPU company, and one that has come off the back of the explosion in AI. Nvidia has all but cornered the market for chips that power large language models (LLMs), with the Nvidia H100 chip running OpenAI’s ChatGPT. Meta and indeed Microsoft itself also use the company’s accelerators.

As a result, supplies of Nvidia’s H100 chip have been limited, forcing up prices and sending Nvidia’s value through the roof. The company announced the new B200 back in March, which its claims provided a seven-fold increase over the H100 in a GPT-3 LLM benchmark.

With rivals investing in their own AI processors, Nvidia’s privileged position might not last forever, but for now it’s sitting firmly on top of the tech world.