In June, Nvidia briefly became the world's most valuable company. It was overtaken by Microsoft, and the tech trio's market capitalizations have been neck-and-neck for several months. The latest gains lifted Nvidia's market value to $3.39 trillion, just below Apple's $3.52 trillion value and above Microsoft's $3.12 trillion.

Shares of Nvidia increased by more than 3% Monday morning, putting the chip maker’s stock on pace for a record close as it nears an intraday high as the company is once again on the cusp of becoming the world’s most-valuable company ahead of Apple.

Shares of Nvidia neared record highs on Monday, putting the heavyweight AI chipmaker on the brink of dethroning Apple as the world's most valuable company.

One analyst says customers are in a “prisoner’s dilemma” that will keep them spending, while another was encouraged by recent Nvidia commentary on the company’s “moat.”

Key Takeaways Nvidia shares climbed to a record closing high Monday in the wake of bullish comments from Wall Street analysts.Citi analysts said Nvidia is “still king” when it comes to its client base in the AI accelerator market,

Nvidia stock is climbing Monday in a base and is on pace to break a record closing high. Shares have gained 180% so far this year.