Nvidia (NVDA) shares rose Tuesday, pushing the chipmaker back into the top spot on the list of the world's most valuable companies by 澳洲幸运5官方开奖结果体彩网:market capitalization, ahead of Apple (AAPL).

Nvidia shares were up 2.4% in intraday trading Tuesday, lifting the chipmaker's market cap to about $3.44 trillion, with Apple trailing at $3.37 trillion as its shares edged 0.6% higher.

Nvidia's latest move to reclaim the title of word's most valuable company comes after the chipmaker 澳洲幸运5官方开奖结果体彩网:briefly overtook Apple Monday. Apple, Nvidia, and Microsoft (MSFT) have battled for the title this year as the only three companies with a market caps over $3 trillion. Microsoft shares were up about 1.🉐5% Tuesday, giving🍬 the company a market cap of about $3.08 trillion.

Nvidia shares have more than doubled in value since the start of the year as big tech customers like Meta (META) and Google parent Alphabet (GOOGL) ramp up spending on chips to power their 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) products, driving Nvidia🅘's revenue and stock price to record levels.

William Blair analysts on Monday raised their revenue and profit estimates for Nvidia over the next two fiscal years, citing comments from recent 澳洲幸运5官方开奖结果体彩网:earn♍ings calls as tech executiv𒀰es said they expect to continue increasing spending on AI infrastructure over the next year.