AI chipmaker Nvidia overtakes Apple as value surpasses three trillion dollars
Nvidia’s surge in market value to leapfrog Apple marks another milestone in the tech sector amid a frenzy around artificial intelligence.
Nvidia has overtaken tech giant Apple as the world’s second most valuable company after the AI chipmaker saw its stock rally above the three trillion US dollar (£2.34 trillion) mark for the first time.
Nvidia’s record shares helped Wall Street also leap to an all-time high overnight amid the frenzy around artificial intelligence.
The firm’s surge in market value to leapfrog Apple marks another milestone in the tech sector, with Apple previously having dominated since it launched its iPhone in 2007.
Apple lost its crown as the world’s most valuable publicly listed company to Microsoft earlier this year amid worries over iPhone demand and thanks to Microsoft’s investment in ChatGPT-maker OpenAI as it took an early lead in generative AI.
