- Microsoft surpasses Nvidia to become the world’s most valuable company again.
- Nvidia’s stock fell 3.4%, despite a major AI partnership with Elon Musk’s xAI.
- Apple remains close behind in third place, with all three companies above a $3 trillion market cap.
Microsoft has reclaimed its title as the world’s most valuable company, overtaking Nvidia after the chip maker’s stock price dropped by 3.4% on Thursday. Nvidia had held the top spot since Tuesday, marking the first time it reached the number one position. Despite this change, both companies maintain market caps above $3 trillion, with Apple close behind in third place.
Nvidia’s decline occurred even after announcing that Elon Musk’s company, xAI, is using thousands of Nvidia’s H100 GPUs to build a supercomputer for AI development. This significant partnership highlights Nvidia’s leading role in high-end AI technology. However, the news was not enough to prevent the dip in Nvidia’s stock, as well as slight declines in Microsoft and Apple’s stock prices following recent market rallies.
Dell and Super Micro, companies providing parts for the new supercomputer, also saw their stock prices fall on Thursday. Despite the market fluctuations, the ongoing advancements in AI and tech industries continue to drive competition among these top tech giants.
