In Tuesday’s trade, Nvidia, whose shares had risen more than 3%, dethroned Microsoft, having only surpassed Apple for the second slot earlier this month.
Given that the chipmaker holds 80% of the processor industry and is leading the artificial intelligence (AI) race, the stock has increased by more than 170% this year.
In February, it reached $2 trillion.
Another significant development in the electronics industry, which Apple has dominated since the 2007 release of the iPhone, is the company’s explosive growth.
Apple only lost the top spot to Microsoft earlier in the year, when the stock was affected by concerns about iPhone demand.
Given that it got a head start in generative AI, Microsoft’s investment in ChatGPT creator OpenAI at the same time was considered as advantageous for its stock.
Analysts claim that earlier this month, a stock split that produced additional shares and increased their appeal to individual investors increased demand for Nvidia’s shares.
When they were divided on June 7, they had each cost more than $1,000.
