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Nvidia overtakes Microsoft to become the world's most valuable public company

Nvidia logo in black and green

There is now a new company that can say that it is the world's most valuable publicly traded organization in the world. At the end of the trading day today in the US, Nvidia found itself in that number one spot.

CNBC reports that the graphics chip maker surpassed the market cap of the previous most valuable company, Microsoft, today. That was because Nvidia's stock price went up by a significant 3.6 percent today, which gave the company a market cap of $3.34 trillion. That was enough to get ahead of Microsoft's market cap of $3.32 trillion. Its share price went down by 0.45 percent today.

Ironically, Microsoft is a huge customer of Nvidia's products, particularly its GPUs that it used to power its AI services like Copilot in its data centers. Indeed, the main reason why Nvidia's stock price continues to go up and up is that its GPUs are used in 80 percent of those AI data centers from Microsoft, Google, OpenAI, and more companies.

Earlier this month, Nvidia went over the $3 trillion market cap for the first time and surpassed Apple to become the second most valuable publicly traded company. At the end of today's stock trading, Apple came out as the third most valuable publicly traded company behind Microsoft and Nvidia with a market cap of $3.29 trillion.

Nvidia recently launched a 10-for-1 stock split, so that more people could afford to actually purchase some shares in the company. One person who has a lot of Nvidia shares is its co-founder and CEO Jensen Huang. After today's trading, Forbes estimates Huang's overall net worth to be a whopping $118.4 billion. Forbes says that now makes him the 11th richest person in the world, ahead of people like Dell founder Michael Dell.

However, he's still behind some major tech industry titans, like Microsoft co-founder Bill Gates at number nine, Meta co-founder Mark Zuckerberg at number 5, and Tesla CEO Elon Musk at number 1 with a net worth of $214.1 billion.

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