This company briefly overtook Apple as the world's biggest this year. It's just done it again

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As the AI race accelerates, this once-unknown company's fortunes have soared. Now it's listed alongside the likes of Apple and Microsoft as one of the most valuable technology companies in the world.

For years, Apple and Microsoft had been the two most valuable companies in the world. Now, repeating a milestone it briefly reached earlier this year, Nvidia is back on top. The American technology corporation held the title of the world's biggest company back in June, with a value of more than $3 trillion. It was a short-lived moment in the sun; lasting only a day. On Tuesday, it reclaimed that position.

Demand for Nvidia’s top-of-the-line processors has this year far outstripped supply as Microsoft, Meta Platforms and Google-owner Alphabet race to build out their AI computing capabilities and dominate the emerging technology. Virtually all artificial intelligence applications, including OpenAI's ChatGPT, rely on Nvidia's high-end chips, which are manufactured in Taiwan.

 

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