NVidia surpassed Apple in terms of market capitalization, becoming for the second time the world's most valuable company by market capitalization.
NVidia rose about 3% to close with a market capitalization of $3.43 trillion, ahead of Apple at $3.4 trillion. NVidia shares nearly tripled in 2024, as investors demonstrated continued confidence in the company's ability to maintain a rapid growth rate of its GPUs and a leading position in the AI market.
NVIDIA is the dominant supplier of GPUs, which are used to develop and deploy advanced AI software such as OpenAI GPT chat. Apple was the first company to reach a market capitalization of $1 trillion and $2 trillion.
