Nvidia surpasses Apple as world’s biggest company
Surpassing Apple on Tuesday, chip-making giant Nvidia has now emerged as the world’s most valuable company, riding high on the wave of enthusiasm surrounding the artificial intelligence boom on Wall Street.
The market value of the AI giant surged by 2.9% to reach $139.93 per share, pushing its market capitalization to $3.43 trillion, surpassing Apple’s $3.38 trillion.
In June, Nvidia briefly claimed the title of the largest traded company, surpassing even Amazon and Meta in combined worth.
Nvidia’s powerful AI technology, which serves as the core element for training advanced generative AI systems like OpenAI’s ChatGPT and Google’s Gemini, has attracted investments worth tens of billions from the largest tech corporations globally.
Joining the Dow Jones Industrial Average on Friday, Nvidia’s inclusion highlights the remarkable ascent of a company whose stock has surged by over 850% since the ChatGPT launch in late 2022, signaling the growing interest in AI technologies.
