Worries about competition and its sales in China had beaten down Nvidia Corp.'s (NASDAQ: NVDA) market cap. Yet, it has rallied to an all-time high, adding $1.4 trillion to its value. Its market cap is now the world's largest at $3.

The US chip designer’s shares rose 4 per cent, surpassing an all-time high intraday price set in January, as it vies with Microsoft and Apple to be the world’s most valuable company. The rally came as Nvidia chief executive Jensen Huang gave a bullish outlook at the company’s annual shareholder meeting on Wednesday about its ability to continue its explosive growth over the next decade.