Reuters Nvidia39;s shares declined nearly 3.4 on Thursday, handing the title of the world39;s most valuable company back to Microsoft.

Nvidia, whose market capitalization 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.

Microsoft39;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 threehorse race to become the world39;s most valuable company. The Tim Cookled iPhone maker39;s market capitalization 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 capitalize on the surging demand for processors that power virtually every AI application.

Musk said earlier this year that training the Grok 2 model took about 20,000 Nvidia H100 graphic processing units and that the Grok 3 model and beyond would require 100,000 Nvidia H100 chips.

While Microsoft both spends and makes money in AI, Nvidia only makes money and lots of money and profits in AI. That39;s why you cannot spell Nvidia without AI,…