ISTANBUL, June 26 — United States (US) chipmaker Nvidia reclaimed its position as the world’s most valuable company on Wednesday after its shares rose 4.33 per cent to a record closing high of US$154.31 (RM652), Anadolu Ajansi (AA) reported.
The rally pushed Nvidia’s market capitalisation to US$3.77 trillion, overtaking Microsoft as the world’s most valuable company by market cap.
The new milestone surpassed its previous closing record of US$149.43 set on Jan 6.
Nvidia remains the dominant player in the global market for graphics processing units (GPUs), which are critical for powering artificial intelligence (AI) systems and large language models.
Despite facing a US export ban and being locked out of the Chinese market, Nvidia’s share performance has exceeded market expectations.
In April, the US government under President Donald Trump imposed tighter export controls that halted the sale of Nvidia’s H20 AI chip, designed specifically to comply with earlier restrictions.
As a result, Nvidia wrote down US$4.5 billion in inventory and estimated that the new controls could cost the company up to US$8 billion in sales. The company has since adjusted its forecasts to exclude any revenue from China.
Still, Nvidia posted strong financial results in May, reporting a 69 per cent year-on-year increase in total revenue, driven largely by a 73 per cent surge in its data centre business. — Bernama-Anadolu
