Nvidia Surpasses Apple to Become World’s Second Most Valuable Company with $3tn Market Cap

Nvidia has reached a significant milestone by surpassing Apple to become the world's second most valuable company. The AI chipmaker's stock has seen a remarkable surge of 147% in 2024, highlighting the growing demand for its processors that far exceeds supply. On Wednesday, Nvidia's shares soared to record highs, pushing its market valuation to $3 trillion. This achievement places Nvidia ahead of Apple, whose market capitalization stood at $3 trillion as well. Nvidia's stock closed at $1,224.40, marking a 5.16% increase, while Apple's stock rose by 0.78%. This development underscores the shifting dynamics in the tech industry, with Nvidia's success reflecting the increasing importance of AI technology and the high demand for its chips.