Nvidia stock closed as the largest U.S. company by market value on Tuesday. The stock edged higher as investment bank Jefferies added the chip maker to its list of highest-conviction picks. Nvidia shares rose 2.

Nvidia gained 0.9% on Tuesday and has surged over 45% since its April low, boosting its market value to $3.45 trillion, just ahead of Microsoft, the worlds most valuable company. Nvidia shares are still 7.

Nvidia reclaims top spot as the most valuable publicly traded company with a $3.45 trillion market cap, surpassing Microsoft.