By Tuesday, Nvidia had overtaken Microsoft to become the world's most valuable publicly traded company, solidifying its position at the forefront of Big Tech.

With a roughly $5 increase in market value to $135.77, Nvidia now has a $3.33 trillion market capitalization, more than Apple's and Microsoft's combined $3.31 and $3.29 trillion. Nvidia held the highest market capitalization until earlier this year, when Microsoft surpassed Apple. A little more than a year ago, Nvidia's market capitalization exceeded $1 trillion. The company's stock was trading at more than $1,200 earlier this month. It has grown by more than 174% this year. Nvidia split its shares 10 for 1 on June 7 in an effort to bring down the share price. 

Apple and Microsoft's success reminds us of old technologies, while Nvidia's recent success is due to its data center business and the high demand for its processors, leading to increased corporate spending on AI. Nvidia's profits have increased significantly. In 2020, the company had $11 billion in annual revenue, but now it makes over $22 billion in just one quarter. Jensen Huang, the CEO and creator of the firm, is recognized for his vision of a future of creativity driven by ChatGPT and other generative AI technologies. Huang is known for his leather jacket.

Nvidia is a leader in cloud computing, graphics processing hardware, and high-performance computer technologies. It also spreads to other sectors of the economy, such as autonomous vehicles and robotics. The success of businesses like Nvidia, which stand to gain from the development of artificial intelligence, has investors buzzing, and as a result, the S&P 500 has hit a new high. They had been anticipating this day for some time, according to CFRA's Angelo Zino, who spoke with AFP. He went on to remark that the semiconductor business is currently the largest subindustry in the S&P 500.