Nvidia's shares declined nearly 3.4% on Wall Street last night, handing the title of the world's most valuable company back to Microsoft.
Nvidia, whose market capitalisation surpassed that of Microsoft on Tuesday, was set to lose around $91 billion to its last closing market value of $3.34 trillion, at the current level of $131.88.
Microsoft's market value also slipped, to $3.30 trillion, as its shares were down 0.4% at $444.8 in afternoon trading.
Nvidia, Microsoft and Apple are in a three-horse race to become the world's most valuable company.
The Tim Cook-led iPhone maker's market capitalisation was at $3.22 trillion, with its shares down 2.2% at $210.10 in the afternoon.
Elon Musk said on his X social media platform on Wednesday that Dell and Super Micro are supplying server racks for the supercomputer of his xAI startup, which will be used to expand the capabilities of its AI tool, Grok.
Dell Technologies and Super Micro Computer fell 1% and 0.7%, respectively.
The companies make servers equipped with Nvidia chips, enabling them to capitalise on the surging demand for processors that power virtually every AI application.
