Nvidia Close To Surpass Apple As Second Most Valuable Company In The World

The American multinational corporation Nvidia is about to surpass Apple Inc. as the second most valuable company in the Wall Street market and the world.

According to Reuters, Nvidia has nearly tripled its value during the past year and has now reached $2.68 trillion. Considering its trend, it could soon dethrone Apple in the market ranking—worth $2.92 trillion at the moment—in what would be a historic event.

“It is certainly notable because Apple has been so dominant for so long, especially on the growth and innovation front. Recently though, Apple’s innovation curve seems to have flattened, showing slower future growth,” said client portfolio manager at Zacks Investment Management Brian Mulberry.

Nvidia has been building a great reputation as an AI chip and computing solutions provider building strategic partnerships with tech giants like Microsoft, OpenAI, and Amazon, and staying on top of the most advanced AI technology developments.

“Nvidia has been able to catch wave upon wave of growth. Beginning with gaming demand, then crypto, and now AI, they have been able to perfectly match innovation with demand and that equals explosive growth,” added Mulberry.

According to Market Watch, Nvidia hasn’t been this close to Apple’s market value since 2009. Microsoft remains at the top of the ranking since it surpassed Apple earlier this year, after crossing the $3 trillion milestone.

Nvidia has been developing affordable products like next-gen AI chips and expanding services at a fast pace, with an increasing focus on AI technologies.

Jensen Huang, NVIDIA founder and CEO, recently confirmed the company’s commitment to building AI products and seeking opportunities for growth at the COMPUTEX technology conference in Taipei this week.

“With our innovations in AI and accelerated computing, we’re pushing the boundaries of what’s possible and driving the next wave of technological advancement,” said Huang.