US-based technology giant Nvidia share price dropped by approximately 3.4 per cent on Thursday, resulting in the company losing its position as the world’s most valuable company back to Microsoft, a title it had briefly held since Tuesday.
The semiconductor giant’s market capitalisation was on track to decrease by around $91 billion from its last closing value of $3.34 trillion, based on the current share price of $131.88.
Meanwhile, Microsoft, which had been overtaken by Nvidia earlier in the week, also saw a slight dip in its market value. The software behemoth’s shares were trading at $444.8, down 0.4% in afternoon trading, bringing its market capitalization to $3.30 trillion.
The race for the top spot among the world’s most valuable companies has become a close contest between Nvidia, Microsoft, and Apple.