Nvidia became the largest company in the world, surpassing Apple.
Nvidia’s market value reached $3.39 trillion, just ahead of Apple’s $3.36 trillion.
Nvidia’s rise can largely be traced back to the booming demand for AI-driven applications which rely on the specialised chips Nvidia produces.
In a major shake-up on Monday, Nvidia became the largest company in the world, edging out Apple and grabbing the top spot. Nvidia’s market value reached $3.39 trillion, just ahead of Apple’s $3.36 trillion. This leap highlights Nvidia’s unstoppable rise, driven by its core role in powering artificial intelligence technology.
Nvidia’s shares rose 2 percent on Monday, while Apple’s shares dipped by 0.2 percent, according to a report by Forbes. Nvidia is also set to replace Intel in the blue-chip Dow Jones Industrial Average later this week, boosting its profile even more. On the flip side, Apple faced a bit of turbulence after Warren Buffett-led Berkshire Hathaway announced it was offloading a large chunk of Apple stock.
Also read: Nvidia eyes India as AI export hub, partners with Reliance and other Indian IT giants
This isn’t the first time Nvidia has held the title of the most valuable company—it briefly achieved the top spot in October. Nvidia’s rise can largely be traced back to the booming demand for AI-driven applications like ChatGPT, which rely on the specialised chips Nvidia produces. These graphics processing units (GPUs) have transformed Nvidia into the go-to company for AI tech, leading to a massive surge in revenue. Just in the past two years, Nvidia’s net income skyrocketed from $2.3 billion to $31.5 billion, while its share price is up by 850 percent over the last two years.
Also read: NVIDIA becomes world’s most valuable company: 3 reasons why
Still, Nvidia’s current stock price is slightly below its all-time high set in October, though Apple’s recent performance has dipped even more, down 6.7 percent. This slight decline for Apple has contributed to Nvidia’s move to the top.
Even though Nvidia’s growth is phenomenal, Apple still holds a significant financial lead overall. Apple is expected to pull in $397 billion in revenue and $98 billion in profit, compared to Nvidia’s $120 billion in sales and $64 billion in profit. However, Nvidia’s growth trajectory is causing a stir, with analysts predicting its profits could nearly match Apple’s by 2026, with estimates of $122 billion compared to Apple’s $124 billion.
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Ayushi Jain
Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds. View Full Profile
