American multinational corporation and technology company Microsoft has reclaimed the top position as the world’s most valuable company from artificial intelligence chip maker Nvidia. This is after Nvidia’s share price fell by 3.5 per cent on Thursday.
Nvidia’s shares fell to $130.78. This brought its value down to around $3.22 trillion. On the opposite extreme, Microsoft’s shares held steady at more than $3.3 trillion after closing at $445.70 which was down 0.14 per cent.
Nvidia had taken the top position after a share price rally that pushed its value to $3.34 trillion. Despite its slight fall, Nvidia still holds an incredible rally with its price having nearly doubled since the start of this year. Eight years ago, the stock was worth less than 1 per cent of its current price.
Microsoft, Nvidia, and Apple are all in a three-horse race for the most valuable company position. The three giants all have a market valuation of over $3 trillion.
According to analysts at Wedbush Securities, these three companies are expected to push their cut-throat competition in the market to the $4 trillion valuation mark in the coming year.
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“We believe over the next year the race to $4 trillion market cap in tech will be front and centre between Nvidia, Apple, and Microsoft,” Wedbush Securities analysts stated.
Headquartered in Redmond, Washington, Microsoft is best-known for its software products which form the Windows line of operating systems, the Microsoft 365 suite of productivity applications, and the Edge web browser.
Nvidia Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, and incorporated in Delaware. It was founded on April 5, 1993 by Jensen Huang (CEO as of 2024), a Taiwanese-American electrical engineer.
The company describes itself as a software and fabless company which designs and supplies graphics processing units (GPUs), application programming interfaces (APIs) for data science and high-performance computing, as well as system on a chip units (SoCs) for the mobile computing and automotive market.
Nvidia is also a dominant supplier of artificial intelligence (AI) hardware and software. A spot check on its official website shows that more than 40,000 companies use NVIDIA AI technologies, with 15,000 global startups in NVIDIA Inception.
Apple Inc, on the other end, is a multinational corporation and technology company headquartered in Cupertino, California, in Silicon Valley. It designs, develops, and sells consumer electronics, computer software, and online services. Its share is valued at $209.68.
