Nvidia: Chipmaker’s shares, market cap rise to beat Microsoft as world’s most valuable company

| Nvidia became the world’s most valuable company on Tuesday , dethroning tech heavyweight Microsoft as its high-end processors play a central role in a scramble to dominate artificial intelligence technology.

. Nvidia’s rally has lifted the S&P 500 and Nasdaq to record highs, some investors worry that unbridled optimism about AI could evaporate if signs emerge of a slowdown in spending on the technology. Tech giants Microsoft, Meta Platforms and Google-owner Alphabet are competing to build out their AI computing capabilities and add the technology to their products and services.

Since its blowout forecast about a year ago, the company has consistently breezed past Wall Street’s lofty expectations for revenue and profit, with demand for its graphics processors far outstripping supply as companies rush to embed AI applications.

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