US chipmaker Nvidia is now the world’s most valuable company, overtaking American software giant Microsoft.
Nvidia is the market leader in the semiconductors that are central to the booming field of artificial intelligence.
The chipmaker’s market capitalization hit 3.33 trillion dollars on Tuesday. Its share price climbed 3-and-a-half percent to end the day at 135.58 dollars on the tech-heavy Nasdaq.
Nvidia conducted a ten-for-one forward stock split earlier this month to make ownership more accessible to employees and investors. But the company’s overall market value stays the same.
Expectations for the firm are growing on strong demand for chips to power AI.