Nvidia is about to overtake Apple as the world’s most valuable company
With Monday’s record-breaking closing prices for its shares, Nvidia became just a few steps away from overtaking Apple as the most valuable firm in the world for artificial intelligence (AI) chips.
Amidst investor wagers on robust demand for its upcoming Blackwell AI processors, the Santa Clara, California-based company’s shares experienced a 2.4% increase to $138.07.
Nvidia momentarily surpassed all other companies in the world in value in June. Microsoft surpassed it, and for the past few months, the market capitalizations of the three IT companies have been comparable.
Nvidia’s market worth is now $3.39 billion, slightly less than Apple ($3.5 billion) and more than Microsoft ($3.1 billion), according to its most recent profits.
In a competition between Alphabet, Microsoft, Amazon, and other corporate behemoths to control developing AI technology, Nvidia has emerged as Wall Street’s greatest victor.
