Nvidia Surpasses Apple: The AI Chipmaker's Rise to Market Dominance

Nvidia overtook Apple to become the world's most valuable company, driven by high demand for its AI chips. Nvidia's market cap briefly reached $3.53 trillion. While Apple and Microsoft remain close competitors, Nvidia benefits from the AI boom, making significant gains in value throughout the year.

Nvidia captured the spotlight by dethroning Apple as the world's most valuable company, as insatiable demand for its AI chips powered a soaring stock rally. The tech giant's market cap reached an impressive $3.53 trillion, narrowly edging out Apple, according to Friday's LSEG data.

Nvidia shares ended the day with a 0.8% rise, valuing the company at $3.47 trillion, whereas Apple's valuation increased by 0.4% to $3.52 trillion. While Nvidia marked its dominance, Microsoft's market value stood at $3.18 trillion, reflecting its competitive hold in the AI space.

Since its early days as a videogame processor designer in the 1990s, Nvidia has advanced significantly, particularly in October when its stock rose by 18%. The arrival of a new funding round from OpenAI and strong semiconductor demand further propelled Nvidia's growth, solidifying its position in the tech sector.

(With inputs from agencies.)