Nvidia has surpassed Microsoft and Apple as the world's largest market capitalization

The artificial intelligence boom continues, and the semiconductor giant Nvidia has surpassed Microsoft and Apple in market value to become the world's most valuable company.

The stock rose as much as 3.4 per cent on Tuesday US time, lifting its market value to about US $3.3 trillion (S $4.5 trillion), Bloomberg reported.

Earlier this month, Nvidia surpassed Apple in market value for the first time since 2002, and the two companies have been rising in value alternately. Last week, Apple also briefly overtook Microsoft to take the top spot in the world market capitalization rankings.

This ranking again shows that artificial intelligence is a top concern for many investors. Nvidia is seen as the biggest and earliest beneficiary of the technology as it dominates the market with its highly sought-after chips.

Nvidia's climb to the top of the market cap list has broken records, and it's one of the few companies to show significant growth in AI revenue. The company's shares have risen more than 160 percent this year, adding more than $2 trillion to its market value.