For the first time in more than a decade, the title of the world’s most valuable company slipped from the hands of Microsoft and Apple, welcoming a new king.

Nvidia’s value increased at a record speed when the chip giant took only 3 months to increase its capitalization from 1,000 billion USD to 3,000 billion USD.

Just a few days after “defeating” Apple, chip giant Nvidia has just surpassed Microsoft to become the world’s most valuable company.

Nvidia shares rose 3.2% to $135.18 per share in Tuesday afternoon trading, raising the company’s market capitalization to $3.332 trillion. Meanwhile, Microsoft shares fell 0.3% on the day, pulling the market capitalization of the US technology giant down to $3.32 trillion.

As a result, Nvidia surpassed two technology giants Microsoft and Apple – which have dominated the US stock market for many years. The last time Microsoft and Apple were surpassed was in 2011, when ExxonMobil led the US stock market.

Nvidia reached a market capitalization of $1 trillion for the first time on June 13, 2023. The company’s capitalization then skyrocketed to the 2 trillion USD mark on March 1 and quickly surpassed the 3 trillion USD mark for the first time on June 5.

Nvidia’s stock is up more than 215% in the past 12 months and more than 3,400% in the past five years. Since the beginning of the year, Nvidia shares have increased 173%, while Microsoft shares have increased less than 19% by 2024.

Nvidia’s strong rise is fueled by exploding demand for AI chips. In less than two years, from a $300 billion company, Nvida became one of the most powerful big tech in the world. Other giants in Silicon Valley have to line up to buy chip products from Nvidia.

Founded 31 years ago with the original purpose of producing PC graphics cards, Nvidia over the past year has seen consecutive quarterly revenue growth. Nvidia’s February revenue increased 265% over the same period last year, and May increased 262%.

Previously, Nvidia CEO Jensen Huang announced that the company is at the center of a new “industrial revolution”, unleashing the power of AI to transform all sectors of the global economy with smart computing. .

Google, Microsoft and Amazon have all purchased the “Hopper” series of graphics processors from Nvidia for their cloud services. In addition, Nvidia’s Cuda software ecosystem also strengthens Nvida’s position by providing tools for developers using its chips.