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Nvidia topples Microsoft as world's most valuable company

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Shares of Nvidia are showing no signs of cooling off as investors double down on the chipmaker's dominance in leading the artificial intelligence race.

Chipmaker Nvidia is now the world’s most valuable company, unseating Microsoft as investors bet its AI dominance will remain unmatched for now. The chipmaker’s market value crossed $3.34 trillion on Tuesday, surpassing Microsoft's $3.32 trillion. Apple, which was unseated by both, has a market value of $3.27 trillion. Despite the gains, the trio are neck-and-neck.

Nvidia is also fresh off its 10-for-1 stock split, which began trading on June 10. Mutual fund managers and various exchange-traded funds are also adjusting for the split which could be contributing to the trading action. The shares were the most active in both the S&P 500 and Nasdaq Composite - both indices are hovering at fresh-record highs.

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