Nvidia loses title of world’s most valued company; stock declines 2%

Nvidia’s stay as the world’s most valued company has been short-lived, with the chipmaker’s shares falling about 8 per cent from their peak.

The company’s shares were down about 2 per cent in early trade on Friday at $128 apiece, giving it a market valuation of $3.16 trillion – closely behind Microsoft’s $3.33 trillion and Apple’s $3.23 trillion. Nvidia, Microsoft and Apple are in a three-horse race to be the world’s most valuable company.