- Nvidia on Tuesday claimed the top spt as the world's most valuable company.
- Shares of the chip maker rose 4%, helping it edge past Microsoft's market cap.
- Investors are still bullish on the company even after a 173% rally in 2024.
Nvidia stock rose 4% on Tuesday, helping push its market capitalization past that of Microsoft and claim the title of the world's most valuable company.
The chip maker on Tuesday boasted a market value of $3.338 trillion, edging out Microsoft's $3.326 trillion market cap.
Nvidia stock hit an intraday-high of $135.73 Tuesday afternoon.
It's already been a wild ride for the chip maker in 2024, with the stock up 173%. That's after the stock rallied more than 200% in 2023.
Still, Wall Street remains bullish and is eyeing even more gains ahead, with one analyst expecting a $10 trillion valuation for the company by the end of 2030.
The company, whose chips have been powering the artificial intelligence boom since ChatGPT was unveiled in 2022, beat out Apple as the second-biggest company less than a month ago.
