Nvidia flips Microsoft

June 18, 2024
Darren Parkin

NVIDIA has tonight knocked Microsoft off its perch to become the world's most valuable company.

Only days after overtaking Apple to become the second most valuable, the artificial intelligence processor maker saw its shares lift by almost 4% to $135.6, taking its market cap to a remarkable $3.335 trillion.

Tech leviathan Microsoft in turn saw its stock slip by almost half a per cent while Apple dipped by a full percent as its value fell to $3.286 trillion.

With an average of $50 billion in daily turnover, Nvidia is currently the most traded company on Wall Street. Microsoft, Apple and Tesla all trade around $10 billion each. It means the AI chip-maker is responsible for more than 15% of all S&P 500 trades as its stock value has tripled since the start of the year.

The uplift has created a record high for Nvidia's stock, ploughing more than $110 billion into its market cap as its market value exploded from $2 trillion in February to $3 trillion this month.