Nvidia has regained its position as the most valuable publicly traded company in the world, surpassing Apple after a significant market shift. The chipmaker’s shares rose 171% in 2024 and nearly 239% in 2023, driven by insatiable demand for its artificial intelligence chips. In contrast, Apple’s shares slid 4% on Tuesday, bringing their year-to-date decline to 12%.
Nvidia’s dominance in the graphics processing unit (GPU) market has enabled it to benefit from the AI boom. The company’s GPUs have become essential for developing and deploying AI software like OpenAI’s ChatGPT. Although revenue growth has slowed, Nvidia still nearly doubled its quarterly revenue to $35.08 billion.
Apple, on the other hand, has limited exposure to the AI boom due to its iPhone and laptop business. Microsoft is closely following Nvidia with a market capitalization of $3.2 trillion, and it has announced plans to spend $80 billion on AI data centers in fiscal 2025.
Nvidia’s resurgence has also led to its inclusion in the Dow Industrial Average, replacing Intel, and joining Apple and Microsoft in the blue-chip index. As experts predict Nvidia’s outperformance will continue, investors are likely to take note of this significant shift in the tech industry landscape.
Source: https://www.cnbc.com/2025/01/21/nvidia-passes-apple-again-to-become-worlds-most-valuable-company-.html