Nvidia (NASDAQ:NVDA) surpasses Microsoft to become world's most valuable company

Nvidia (NASDAQ:NVDA) has claimed the title of the world's most valuable company, overtaking tech giant Microsoft (NASDAQ:MSFT), as the demand for its artificial intelligence (AI) chips continues to soar.

On Tuesday, shares of Nvidia rose by 3.2% to $135.21, bringing its market capitalization to an impressive $3.326 trillion.

This milestone comes just days after Nvidia surpassed Apple (NASDAQ:AAPL) to become the second most valuable company.

The chipmaker's stock has seen a meteoric rise of approximately 173% this year, a stark contrast to the 19% increase in Microsoft shares.