Nvidia becomes world's most valuable company, dethroning Microsoft

Nvidia, the startup at the centre of the artificial intelligence boom, has become the world's most valuable company, knocking Microsoft off the top spot. Nvidia's market capitalisation hit 3.335 trillion on Tuesday as shares of the chipmaker rose by 3.5 percent to 135.58. The feat comes just days after the Santa Clara California-based company eclipsed Apple to become the world's second most valuable company. Shares of Microsoft and Apple, holders of the no 2 and no 3 spots, fell by 0.45 percent and 1.1 percent, respectively. Nvidia's rally, which has lifted the S&P 500 and Nasdaq indexes to record highs, continues a speculator winning streak for the company, whose graphics processing units (GPUs) are integral to the development of AI.