A new competitor has been added to the title of the world’s most valuable company between Apple and Microsoft. Taking the artificial intelligence wind behind its back, NVIDIA has become the most valuable company in the past hours. The company’s shares broke a record with a historic rise.

NVIDIA became the most valuable company for the first time in history

NVIDIA managed to become the world’s most valuable company by market capitalization, leaving technology giant Microsoft behind. Company shares increased by 3.7 percent and traded at 135.87 dollars. Accordingly, NVIDIA’s market capitalization was 3.34 trillion dollars.

This figure surpassed the $ 3.31 trillion market value of Microsoft, whose shares fell 0.5 percent during the day. Shares of Apple, previously the secondvaluable company, fell 1.2 percent to $3.28 trillion.

NVIDIA’s rise to the top shows the importance of AI technologies. The company, which sells AI chips and accelerators to many technology companies, has seen a huge increase in share prices this year. NVIDIA shares almost tripled against Microsoft’s 20 percent gain.

The list of the most valuable companies is as follows:

1. NVIDIA
2. Microsoft
3. Apple
4. Alphabet (Google)
5. Saudi Arabian Oil
6. Amazon
7. Meta Platforms
8. Berkshire Hathaway
9. Taiwan Semiconductor Manufacturing (TSMC)

Tech giants are using NVIDIA’s chips to improve their AI capabilities. Some investors believe that uncontrolled growth in AI could create volatility in the market.