Nvidia and Palantir have been big winners of the AI revolution in the past three years, but this tech giant could turn out to be a better bet going forward. The booming demand for AI in cloud services and e-commerce,

The US chip designer’s shares rose 4.3 per cent, putting Nvidia decisively ahead of Microsoft as the world’s most valuable company, with a $3.77tn market capitalisation compared with Microsoft’s $3.66tn.

Nvidia's stock hit a record high on Wednesday, and the chipmaker reclaimed the crown as the world's most valuable company after an analyst said the chipmaker was set to ride a "Golden Wave" of artificial intelligence.