Nvidia, the graphics chip giant, has become the world's largest company by market capitalisation, surging past Apple, in the artificial intelligence era.
Nvidia was valued at $3.43 trillion at the close of market late on Tuesday, crossing Apple's $3.38 trillion market value.
Jensen Huang-led Nvidia had first overtaken Apple in June, but only for one day.
The stock of the company rose 2.9 per cent to $139.93, bringing the market capitalisation of the chipmaker to $3.43 trillion. It now accounts for 7 per cent of the weight of the S&P 500 Index.
Microsoft has a market cap of $3.06 trillion.
In its second quarter ended July 28, Nvidia announced revenue of $30 billion, up 15 per cent from the previous quarter and 122 per cent from the same period a year ago.
"Hopper demand is strong, and the wait for Blackwell is incredible," said Huang. "Nvidia achieved record revenues as global data centers are going full throttle to modernize the whole computing stack with accelerated computing and generative AI."
In the first half of fiscal 2025, the chipmaker returned $15.4 billion to its shareholders through shares repurchased and cash dividends. Until the end of the second quarter, the company had $7.5 billion left under its share repurchase authorization.
Revenue for the third quarter of fiscal 2025 will be between $32.5 billion and 2 per cent.
Nvidia will announce fiscal Q3 2025, ended October 27, at its conference call, on November 20.
Following the call, written comments will be provided by CFO, Colette Kress regarding its third quarter.
Meanwhile, Huang asked SK hynix to accelerate its delivery of the company's next-generation high bandwidth memory, called HBM4, by six months. This is because more demand for AI computing chips was rising.
Huang's request pointed to skyrocketing demand for Nvidia's AI accelerators, as they significantly rely on HBM chips for data- and energy-intensive tasks because AI technology continues to advance from text-based models.
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