News & Analysis

NVIDIA loses top spot to Microsoft amid share price decline

21st June 2024
Paige West

NVIDIA has relinquished its position as the world’s most valuable company to Microsoft following a share price drop exceeding 3.5% on Thursday.

The AI chip giant had briefly held the top spot starting Tuesday, boasting a market valuation of $3.34tn (£2.64tn).

However, NVIDIA's share price dipped to $130.78 on Thursday, reducing its valuation to approximately $3.22tn. This allowed Microsoft to reclaim the title, maintaining a valuation above $3.3tn.

NVIDIA, Microsoft, and Apple, each valued at over $3tn, are in close contention for the title of the world's most valuable company.

Although NVIDIA's tenure at the top was brief, some analysts predicted that the competition among these three tech giants would continue to be intense.

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