Nvidia at $3 Trillion surpasses Apple in market cap as second-most valuable company
Nvidia soared to record highs on Wednesday, with the AI chipmaker’s valuation surpassing the $3 trillion mark and overtaking Apple to become the world’s second most valuable company. Nvidia plans to split its stock ten-for-one on June 7, aiming to attract more individual investors. The rise in Nvidia’s market value above Apple’s represents a significant shift in Silicon Valley, which Apple, co-founded by Steve Jobs, has dominated since the launch of the iPhone in 2007. Nvidia’s stock climbed 5.2% to close at $1,224.40, giving the company a valuation of $3.012 trillion. Meanwhile, Apple’s market capitalization was $3.003 trillion after its stock increased by 0.8%. Microsoft, based in Redmond, Washington, remained the world’s most valuable company at $3.15 trillion following a 1.9% rise in its shares. Nvidia is profiting from AI right now, whereas companies like Apple and Meta are investing in AI. It seems inevitable that Nvidia will surpass Microsoft as well. A lot of retail inves...