Nvidia Surges to $3.43 Trillion, Overtakes Apple as World’s Top Company

AFP

New York: Nvidia has surpassed Apple to become the most valuable company in the world, driven by the ongoing surge in artificial intelligence (AI) investment.

On Tuesday, Nvidia’s shares rose by 2.9 percent, reaching $139.93 per share, boosting its market capitalization to $3.43 trillion, edging ahead of Apple’s $3.38 trillion.

This marks a significant milestone for Nvidia, which briefly held the title of the world’s largest traded company in June, but has now solidified its position, surpassing both Amazon and Meta in value.

Nvidia’s AI technology has become a crucial element for major tech companies, powering the training of advanced generative AI systems like OpenAI’s ChatGPT and Google’s Gemini.

As a testament to its rapid growth, Nvidia will be joining the prestigious Dow Jones Industrial Average on Friday, a recognition of the company’s extraordinary rise.

Since late 2022, Nvidia’s share price has soared over 850 percent, a period coinciding with the release of ChatGPT and the AI revolution that followed.