(Reuters) - Artificial intelligence-focused companies, mostly chipmakers, saw big gains in their market capitalization at the end of June, with Nvidia (NASDAQ:NVDA) briefly overtaking Microsoft (NASDAQ:MSFT) to become the most valuable company in the world.
Nvidia shares rose as much as 27% in June, boosting its market capitalization to $3.34 trillion, before giving up some of their gains later in the month, due to profit booking and concerns over its high valuations.
Microsoft's market capitalization increased by 7.6%, while that of Apple Inc (NASDAQ:AAPL) surged 9.6% over the past month.
Meanwhile, Amazon.com Inc (NASDAQ:AMZN) hit $2 trillion in market value last month, becoming the fifth U.S. company to achieve the milestone, riding on AI-influenced enthusiasm.
Broadcom (NASDAQ:AVGO) Inc's market capitalization jumped about 20% last month after it increased its annual revenue forecast for AI-related chips by 10% and announced a stock split to capitalize on this year's rally in its shares.