Nvidia tops Microsoft as the most valuable public company

Nvidia on Tuesday vaulted past Microsoft to become the most valuable publicly listed company in the world, highlighting its place on the forefront of Big Tech.Nvidia's stock price rose nearly $5, or 3.7%, to $135.77, valuing the AI chip maker at $3.33 trillion, compared with $3.31 trillion for Microsoft and $3.29 trillion for Apple, which boasted the largest market capitalization until being surpassed by Microsoft earlier this year.

The ascent of Microsoft and Apple harken back to previous technologies, but Nvdia's startling rise in recent years has been powered by surging demand for its chips, which are helping to power massive corporate spending on all things AI, and its data center business. Nvidia is also a leader in graphics processing hardware, cloud services and other technologies for high-performance computing, while expanding into other emerging sectors such as robotics and autonomous driving.

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