Nvidia overtakes Apple as world's most valuable company
Nvidia dethroned Apple as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips.
Nvidia dethroned Apple as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips.
Nvidia’s stock market value briefly touched $3.53 trillion, slightly above Apple’s $3.52 trillion, LSEG data showed.
Nvidia ended the day up 0.8%, with a market value of $3.47 trillion, while Apple’s shares rose 0.4%, valuing the iPhone maker at $3.52 trillion.
In June, Nvidia briefly became the world’s most valuable company before it was overtaken by Microsoft and Apple. The tech trio’s market capitalizations have been neck-and-neck for several months.
Microsoft’s market value stood at $3.18 trillion, with its stock up 0.8%.
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