world’s most valuable company on Tuesday, dethroning tech heavyweight Microsoft, as its chips continue to play a central role in a race to dominate the market for artificial intelligence.
The stock has surged about 173% so far this year, compared with a rise of about 19% in Microsoft shares, with demand for its top-of-the-line processors outpacing supply. Tech giants Microsoft, Meta Platforms and Google owner Alphabet are racing to build out their AI computing capabilities and dominate the emerging technology.
The surge in shares pushed the stock to a record high, adding over $103-billion to Nvidia’s market capitalisation on Tuesday.recently split its stock 10-for-one, effective 7 June.
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