Africa-Press – Mauritius. US AI chipmaker Nvidia regained its position as the world’s most valuable company Wednesday as its shares rose 4.33% to close at a record high.
Its stock finished at $154.31 midweek, exceeding its previous closing high of $149.43 on Jan. 6.
Nvidia is now worth $3.77 trillion, again becoming the most valuable company in the world by market cap, beating Microsoft.
Although Nvidia continues to dominate the market for graphics processing units, or GPUs, which are required to perform AI tasks and create enormous language models, the intensity of this year’s gain is unexpected considering that the firm has claimed to be shut out of China.
Nvidia has been facing a series of export controls and bans from the US government in recent months.
In April, the Trump administration imposed additional regulations that halted sales of the company’s H20 AI processor, which was created to comply with earlier limitations.
In addition to having to write down $4.5 billion in inventory, Nvidia said last month that the US government-imposed adjustment will cost the business $8 billion in sales. Nvidia is currently not banking on any Chinese sales.
However, Nvidia’s May earnings release showed 69% year-over-year sales growth, driven by a 73% spike in its data center division.
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