Nvidia solidifies position as world's most valuable company

FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia, whose market capitalization surpassed that of Microsoft on Tuesday, was set to add nearly $84 billion to its last close market value of $3.34 trillion at the current level of $138.99. Musk said on his X social media platform on Wednesday that Dell and Super Micro are supplying server racks for xAI's supercomputer, which will be used to expand the capabilities of its AI tool, Grok.

"While Microsoft both spends and makes money in AI, Nvidia only makes money and lots of money and profits in AI. That's why you cannot spell Nvidia without AI," said Jake Dollarhide, chief executive officer, Longbow Asset Management.

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