Bad news for Microsoft as it loses world’s most valuable company title to...; not Elon Musk's Tesla, Meta, it is owned by...

Tech giant Microsoft is no longer the world's most valuable company as it has lost the title to AI chipmaker Nvidia Corp. Nvidia has been trading places with Apple and Microsoft at the top of the market cap ranks since last June. Now, it has once again regained the top spot on Tuesday, June 3. It is the first time that graphics-chip maker Nvidia reclaimed the top spot since January 24. The company now has a market cap of USD 3.45 trillion. Microsoft closed Tuesday with a USD 3.44 trillion market cap.

Nvidia was co-founded by Jensen Huang in 1993. He has served as its CEO and president ever since. The 62-year-old owns approximately 3 per cent of Nvidia, which he took public in 1999. Under his leadership, Nvidia's GPUs became dominant first in computer gaming and now in AI, propelling the company's market cap past USD 3 trillion in 2024. Nvidia has become the silicon backbone of the AI revolution.

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Jensen Huang's net worth

He is one of the richest men in the world. Currently, he has a real-time net worth of USD 123.3 billion, as per Forbes. Shares of the AI chipmaker rose about 3 per cent on Tuesday to USD 141.40, and the stock has surged nearly 24 per cent over the past month as Nvidia’s growth has persisted even through export control and tariff concerns. In its latest quarterly results, the company posted a 69 per cent increase in revenue, reaching USD 44.06 billion.

Companies including Microsoft, Meta, Google, Amazon and Oracle have been purchasing Nvidia’s AI accelerators in massive quantities to build ever-larger clusters of computers for advanced AI work.