AI frenzy makes Nvidia the world's most valuable company

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Chip-maker Nvidia has become the world’s most valuable company after its share price climbed to an all-time high on Tuesday.

It is now worth $3.34 trillion (£2.63 trillion), with the price having nearly doubled since the start of this year.

The firm is now more valuable than fellow tech giant Microsoft. It overtook Apple earlier this month.

The Californian company's meteoric rise has been fuelled by its dominance of what analysts call the "new gold or oil in the tech sector" - the chips needed for artificial intelligence (AI).

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