Microsoft reclaims its position as the most valuable company in the world

Following a 3.4% decline in its shares, Nvidia lost its ranking as the most valuable corporation in the world to Microsoft. Microsoft reclaimed the top spot with a market value of $3.30 trillion, while Nvidia's market capitalization fell by $91 billion to $3.34 trillion. Dell Technologies and Super Micro Computer are competitors for both Microsoft and Nvidia in the server business.

Both Nvidia and Microsoft are still well above the 3 trillion mark. Nvidia was ahead since Tuesday which was the first time when the chip maker managed to reach the top rank. Apple is still close behind and is trailing in the third position. All three companies have a market cap beyond $3 trillion.

NVIDIA's decline came despite the announcement that Elon Musk's company, xAI, is building a supercomputer with thousands of Nvidia chips to make its AI model better. Notably, Dell and Super Micro are also helping in building this new supercomputer by providing parts for it, the stock prices for both witnessed a dip in share price on Thursday.