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Nvidia beats Microsoft to become world's most valuable company

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The stock ended the trading day at nearly $136, up 3.5%, making it more valuable than Microsoft.

Nvidia became the world’s most valuable company after its share price climbed to an all-time high on Tuesday.

Nvidia makes computer chips needed for artificial intelligence software, and demand for its products has boosted its sales and profits over the last few years. Tuesday’s share price rally means the market now values the company at $3.34tn , with the price having nearly doubled since the start of this year.Competition among AI developers is fierce. Microsoft, Google-owner Alphabet, Meta and Apple are just some of the tech heavyweights battling to create a world-beating product.As such, investors believe the company will continue to surge in value. Nvidia’s sales and profit figures have surpassed many analyst expectations in recent years.

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