The smart chip design company, Nvidia, has regained the title of the most valuable company in the global stock market, surpassing Microsoft and Apple.
The giant artificial intelligence chipmaker, led by its CEO Jensen Huang, surpassed Microsoft after its stock jumped by 3 percent, reaching $141.2.
Nvidia's market value now stands at $3.444 trillion, surpassing Microsoft's $3.441 trillion, according to Nasdaq data.
The last time Nvidia held the top spot was on January 24, and since last June, it has been competing with Apple and Microsoft for the title of the company with the largest market value.
Nvidia's value increase came a week after the company announced first-quarter revenues that exceeded Wall Street expectations at $44.06 billion, representing a 69 percent year-over-year increase.
Confidence in Nvidia remains high despite the company expecting to lose $8 billion in revenue during the next quarter due to new chip export control policies imposed by the Trump administration, which prevented it from selling the 'H2O' chips it specifically developed for the Chinese market.
Huang expressed dissatisfaction with chip controls during the earnings call and in subsequent media appearances.
In the field of export controls, China is one of the largest AI markets in the world, and a launching point for global success.
Given that half of the world's AI researchers are there, the platform that wins China is poised for global leadership, as Huang stated during the earnings conference on May 28.
He added, 'But today, the Chinese market, valued at $50 billion, is effectively closed to the American industry,' pointing out that export controls should work to strengthen American platforms, not push half of the world's AI talent to competitors.
Nvidia's shares rose by nearly 5 percent immediately after trading hours following the earnings call on May 28, and by June 3, it achieved a gain of 24 percent, almost over the past month.
