Nvidia dethrones Microsoft as the world's most valuable publicly traded company with a $3.45 trillion market cap
The AI chipmaking giant led by CEO Jensen Huang surpassed Microsoft after its stock jumped 3% to close at $141.40 on Tuesday. Nvidia now boasts a market cap of $3.444 trillion, edging out Microsoft's $3.441 trillion based on data from Nasdaq.
The last time Nvidia held the top spot was on January 24. Since last June, it has been competing with Apple and Microsoft for the title of the top market cap company.
The rise in Nvidia 's value came a week after the company reported Q1 revenues that beat Wall Street expectations at $44.06 billion, which makes for a 69% year-over-year increase.
Confidence in Nvidia remains high despite the company expecting to lose $8 billion in revenue over the next quarter due to the Trump administration's new chip export control policies, which prevented it from selling its H20 chips developed specifically for China's market.
Huang has expressed dissatisfaction over chip controls during the earnings call and in media appearances that followed.
"On export control, China is one of the world's largest AI markets and a springboard to global success. With half of the world's AI researchers based there, the platform that wins China is positioned to lead globally," Huang said during the May 28 earnings call. "Today, however, the $50 billion China market is effectively closed to US industry."
"Export controls should strengthen US platforms, not drive half of the world's AI talent to rivals," Huang added.
Immediately after the earnings call on May 28, Nvidia shares shot up nearly 5% after trading hours, and as of June 3, had gained nearly 24% over the past month.
Overall, this week, investors flocked to chip stocks. The VanEck Semiconductor ETF climbed 2%, while individual companies like Micron Technology also gained as much as 4%.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
an hour ago
- Forbes
iPhone iOS 26: Here's The Design Change Everyone Wants To Know About
Apple's big software extravaganza, WWDC25, starts on Monday morning, June 9. All the rumors point to a complete new look, the biggest design overhaul in more than a decade. So, what will the app icons look like? App icons on the iPhone Those app icons have gone through several evolutions already. In the first iPhone software released in 2007, the icons were square, with curved edges and a design that made them look 3D, as though they were slightly domed. Then, with iOS 7 in 2015, Apple ditched these icons for a layered, flatter look. And the shape of the square subtly changed. For the new update, iOS 16 as it's thought it will be called, there have been plenty of rumors about how the app icons — after all, the essential way to navigate a smartphone — will transform again. Many have suggested the icons will become circular. That makes a kind of sense, as the new OS is believed to have drawn inspiration from the Apple Vision Pro's visionOS software. However, a new report from Bloomberg's Mark Gurman has news about exactly what the app icons will look like. 'While there has been speculation that the app icons will be round to match the style on the Apple Watch and Vision Pro, the shape is staying largely the same on the iPhone and iPad,' he says. 'Largely' may be the key word. It sounds to me that the icons will remain essentially square with curved corners, but the shape of the corners will change, again. The move from iOS 6 to iOS 7 meant that the straight lines turned to curves further in, that is, the corners were, well, curvier. This time, perhaps the corners will change in the other direction. What's clear, though, is that the expectation of circular icons is rejected by Gurman. This makes sense to me: for circular icons sit nicely together, you could choose a galaxy of apps like you have on the Apple Watch, but that wouldn't work for the iPhone. Every mock-up I've seen with round apps jarred for me. Everything will be revealed in a matter of hours.
Business Upturn
an hour ago
- Business Upturn
The Week That Was, June 1 to June 7, 2025: RBI cuts repo rate by 50 bps, BEL secures Rs 2,323 crore order, Musk-Trump feud escalates, Coal India signs MoU for rail infra
In a week marked by major policy announcements, strategic deals, and sectoral movements, the Reserve Bank of India (RBI) took centre stage by delivering a surprise 50 basis points rate cut on June 6, bringing the repo rate down to 5.50%. This marked the third straight reduction in 2025, totaling a 100 bps cut to support growth amid global uncertainty. RBI Governor Sanjay Malhotra signaled continued comfort with inflation, lowering the CPI forecast for FY26 to 3.7% from 4% and retaining GDP growth expectations at 6.5% for the year. In a liquidity-boosting move, the central bank also slashed the Cash Reserve Ratio (CRR) by 100 bps to 3%, to be implemented in four tranches between September and November, unlocking ₹2.5 lakh crore into the banking system. Further, the RBI raised the loan-to-value (LTV) cap for small gold loans up to ₹2.5 lakh from 75% to 85%, a move that significantly benefited gold financing stocks. Among corporate highlights, the RBI gave a clean regulatory signal to IndusInd Bank, affirming its accounting standards, which pushed its shares up by over 5%. Infrastructure firm Ashoka Buildcon, however, faced a setback as its ₹1,673 crore project under CIDCO's NAINA initiative encountered execution hurdles. In the energy and defense sectors, Coal India signed a key MoU with Indian Port Rail & Ropeway Corporation to develop rail infrastructure, while GRSE expanded its global presence by signing MoUs in Sweden and Denmark for cruise vessel and marine propulsion collaboration. Similarly, Bharat Electronics Limited (BEL) secured orders worth ₹2,323 crore from MDL and GRSE, strengthening its defense manufacturing portfolio. JSW Energy exited Beempow Energy for ₹302.66 crore, completing a strategic realignment, and RailTel bagged a ₹274 crore ITMS project in Maharashtra's Vidarbha Circle, aimed at enhancing road safety across blackspots and accident-prone zones. Meanwhile, KEC International won ₹2,211 crore worth of new orders across international T&D, pipelines, and cable supply businesses, reinforcing its infrastructure footprint in the Middle East and Africa. In the equity markets, Gravita India surged 4% on expectations of a government-backed critical mineral recycling scheme. Tata Investment gained 8% on reports of Tata Capital's impending IPO, while shares of ICICI Lombard and Go Digit also moved higher as the government weighed a 25% hike in third-party motor insurance premiums. Lastly, global cues remained mixed. While Asian markets were relatively steady, U.S. indices such as Nasdaq and S&P 500 dipped amid fresh tariff tensions and a high-profile online spat between Elon Musk and Donald Trump—an episode that dented Tesla's valuation and contributed to market volatility. Overall, the week was dominated by aggressive monetary easing, strong defense-industry momentum, and corporate actions that may shape the economic narrative for the weeks ahead. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
an hour ago
- Yahoo
SolarBank to Use Geddes Project Proceeds for Bitcoin Purchases
SolarBank Corporation (NASDAQ:SUUN) announced that it is beginning to carry out its recently announced Bitcoin treasury strategy, first disclosed on June 3rd. The company is using the net cash flow from its Geddes Solar Power Project to purchase Bitcoin. With this move, SolarBank Corporation (NASDAQ:SUUN) becomes one of the early renewable energy firms to embrace a Bitcoin-focused treasury approach, aligning itself with other companies that have already incorporated Bitcoin into their financial holdings. In addition, the company is considering applying this strategy to other solar and battery storage projects it is developing, particularly those it plans to retain ownership of as an independent power producer. Solar panel workers installing a new farm for clean energy generation. The Geddes Project is a 3.79 MW solar initiative repurposing a landfill, contributing to SolarBank's 1+ GW pipeline. It's expected to be operational by June 2025, with Bitcoin allocation details to follow after launch. Dr. Richard Lu, President & CEO, and Director of SolarBank Corporation (NASDAQ:SUUN), made the following comment: "I am pleased we are moving forward with the first step in our Bitcoin treasury strategy. Geddes is the largest power producing assets that SolarBank will have operational and this strategy provides a sustainable way to add Bitcoin to SolarBank's balance sheet. By converting solar energy revenue into digital assets, we're creating a unique value proposition that combines the stable cash flows of renewable energy with the potential appreciation of Bitcoin, while supporting grid decarbonization and distributed energy resources (DER) expansion." SolarBank Corporation (NASDAQ:SUUN) is an independent company that develops and owns renewable and clean energy projects, specializing in distributed and community solar initiatives across Canada and the United States. While we acknowledge the potential of SUUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
