NVIDIA Corp (NASDAQ:NVDA, ETR:NVD) shares gained almost 4% on Monday making it the most valuable public company with a market capitalization of $3.34 trillion.
The chipmaker has taken the top spot from tech giant Microsoft Corp (NASDAQ:MSFT), which has a market cap of $3.32 trillion, just days after it climbed past Apple into second place.
NVIDIA stock has surged more than 180% in the year to date on strong demand for its processors for AI applications, while Microsoft has gained about 20%.
Shares of NVIDIA added 3.7% at $135.87 on Tuesday afternoon.
Additionally, on Tuesday, NVIDIA announced that it is partnering with Hewlett Packard Enterprise Co (NYSE:HPE, ETR:2HP) (HPE) to co-develop AI solutions to accelerate the adoption of generative AI (GenAI).
The portfolio, called NVIDIA AI Computing by HPE, features HPE Private Cloud AI: a solution integrating NVIDIA’s AI computing with HPE’s AI storage, compute and the HPE GreenLake Cloud.
“Generative AI and accelerated computing are fueling a fundamental transformation as every industry races to join the industrial revolution,” NVIDIA CEO Jensen Huang said in a statement.
“Never before have NVIDIA and HPE integrated our technologies so deeply – combining the entire NVIDIA AI computing stack along with HPE’s private cloud technology – to equip enterprise clients and AI professionals with the most advanced computing infrastructure and services to expand the frontier of AI.”
HPE shares added 1.6% to $21.85 on the announcement.