Nvidia became the world's most valuable company on Jun. 18 (U.S. time), toppling Microsoft from the top spot, Reuters reported.

Shares of the chipmaker climbed 3.2 per cent to US$135.21 (S$182.70), lifting its market capitalisation to US$3.326 trillion (S$4.49 trillion).

At the time of writing, it hit US$136.12 (S$183.93).

The surge in shares pushed the stock to a record high, adding over US$103 billion (S$139.2 billion) to Nvidia's market capitalisation on Tuesday.

It was just days ago when it overtook iPhone maker Apple to become the second most valuable company.

The path to the top has been reached at a giddy pace.

The stock has surged about 173 per cent in 2024 alone, compared with a rise of about 19 per cent in Microsoft shares.

Nvidia recently split its stock 10-for-one, effective Jun. 7, which made owning each share of the company more affordable for individual investors.

The company's market value expanded from US$1 trillion (S$1.35 trillion) to US$2 trillion (S$2.7 trillion) in just nine months in February, while taking just over three months to hit US$3 trillion (S$4.05 trillion) in June.

Nvidia chips continue to play a central role in the push for artificial intelligence.

Top photo via Wikipedia