The market value of Nvidia exceeded Apple's on Tuesday, making the popular graphics processor manufacturer the largest public company in the world in terms of value. Since the beginning of the year, the new leader's shares have tripled.
In June, Nvidia was already for a while the company with the largest stock market capitalization in the world, but Apple quickly returned to the first position.
Rynkowa Nvidia's value at the end of Tuesday's session reached $3.43 trillionand Apple is currently worth just under $3.4 trillion.
Nvidia's stock has nearly tripled in value since the start of 2024 as investors show continued confidence in the company's ability to maintain its rapid pace of graphics processor, or GPU, growth and leadership in the artificial intelligence market.
Nvidia is the dominant supplier of GPUs that are used to develop and deploy advanced AI software such as OpenAI's ChatGPT.
Nvidia is ahead of Apple
Apple shares are up about 17% this year.but many analysts say the recent launch of Apple's suite of Intelligence features for iPhones could boost sales and put the company in a leadership position in “edge AI,” which relies less on GPU-based servers.
Apple was the first company to reach a market capitalization of $1 trillion and $2 trillion.
S&P Dow Jones announced last week that Nvidia would join the Dow Industrial Average on Friday, replacing longtime rival Intel and joining Apple on the blue-chip index.
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