Just two days after it was toppled from being the world’s most valued company by Nvidia, Microsoft regained the market cap top slot, after a drop in the AI chip maker’s share price on Thursday.
Nvidia briefly held the top spot from Tuesday, with a stock market valuation of $3.34 trillion.
A three percent fall in Nvidia’s share prices dragged down its value to around $3.22 trillion, with Microsoft reclaiming the title as it held steady at more than $3.3 trillion.
Nvidia, Microsoft and Apple – each worth more than $3 trillion – are in a three-horse race to be the world’s most valuable company.
While Nvidia reached the top spot for just a brief period, some analysts have predicted competition between the three technology firms will remain fierce, BBC reported.
“We believe over the next year the race to $4 trillion market cap in tech will be front and centre between Nvidia, Apple, and Microsoft,” Wedbush Securities said in a note earlier this week.
Nvidia’s stock has boomed thanks to growing demand for chips that train and run generative AI models, such as OpenAI’s ChatGPT.
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