Nvidia Surpassed Apple In Market Value - See Ranking
Nvidia, a technology giant, has once again become the world's most valuable public company, leaving Apple behind in market value. The 2 percent increase in Nvidia shares has allowed the company to take the lead. On the other hand, Apple's share value has fallen by 3 percent.
Nvidia in the leadership seat
As of Tuesday’s close, Nvidia’s market value reached about $3.45 trillion, while Apple’s was valued at $3.35 trillion. Microsoft comes in right behind those two companies with a market value of $3.2 trillion. Microsoft, which announced plans to spend $80 billion on AI data centers in fiscal 2025, is a big buyer of Nvidia’s GPUs.
Nvidia shares rose more than 2 percent on Tuesday, marking a 5 percent increase since the beginning of the year. The company, which is set to gain 171 percent in 2024 and 239 percent in 2023, continues to grow thanks to the insatiable demand for artificial intelligence chips.
Things are going well for the company
Nvidia, which is also a partner in OpenAI's " Stargate Project " initiative, will power this giant $500 billion investment with its own chips. So things are going well for Nvidia.
Apple shares, on the other hand, fell 3 percent on the same day and have declined 11 percent in total since the beginning of the year. Apple, which has increased by 30 percent in 2024, draws attention with the "Apple Intelligence" artificial intelligence features it has developed for its phones and laptops. However, the company's share and influence in the artificial intelligence market is not as large and strong as Nvidia.
Nvidia holds a large share of the graphics processing unit (GPU) market. Those technologies are critical to the development and implementation of AI software like OpenAI’s ChatGPT. The company’s revenue growth has slowed, but in the most recent quarter, revenue nearly doubled to $35.08 billion.
While Apple made history as the first company to reach the $1 trillion, $2 trillion, and $3 trillion market cap milestones, it has struggled to maintain a steady rise in the age of AI. This is why Nvidia briefly surpassed Apple in June and November.
