by Nvidia Surges Past Microsoft to Become the World’s Most Valuable Public Company
Nvidia has reclaimed its position as the most valuable publicly traded company, overtaking Microsoft in a dramatic market shift. The AI chip giant, led by CEO Jensen Huang, saw its stock climb 3% on Tuesday, closing at $141.40 and pushing its market capitalization to $3.444 trillion—just edging out Microsoft’s $3.441 trillion, according to Nasdaq data.
This marks Nvidia’s first time at the top since January 24. Since last June, Nvidia has been in a tight race with Apple and Microsoft for the crown of the highest market cap company.
Nvidia’s recent surge comes on the heels of a blockbuster Q1 earnings report that crushed Wall Street expectations. The company posted $44.06 billion in revenue—a remarkable 69% increase from the same period last year—boosting investor confidence.
Despite this strong performance, Nvidia expects to lose about $8 billion in revenue next quarter due to new chip export controls imposed by the Trump administration. These restrictions have barred Nvidia from selling its cutting-edge H20 chips designed specifically for China, one of the world’s largest and most crucial AI markets.
During the May 28 earnings call, Huang voiced his frustration about these export controls. “China is one of the world’s largest AI markets and a springboard to global success,” he said. “With half of the world’s AI researchers based there, the platform that wins China is positioned to lead globally. Today, however, the $50 billion China market is effectively closed to US industry.”
He added, “Export controls should strengthen US platforms, not drive half of the world’s AI talent to rivals.”
Following the earnings call, Nvidia’s stock jumped nearly 5% in after-hours trading and has surged nearly 24% over the past month.
The chip sector overall is on the rise. The VanEck Semiconductor ETF climbed 2% this week, while individual companies like Micron Technology posted gains up to 4%, reflecting broad investor enthusiasm.
Nvidia declined to comment on the recent developments. Microsoft did not immediately respond to requests for comment.
