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.