NVIDIA surpasses Apple as the single most valuable company in the world

NVIDIA has surpassed Apple for the second time to become the world's single most valuable publicly traded company after the GPU maker's share price rose nearly 3%.

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NVIDIA's market cap reached $3.43 trillion, putting it just a smidge above Apple's $3.4 trillion. As for NVIDIA, the company has seen extreme growth that can be attributed to it supplying the demand for hardware to conduct artificial intelligence-based tasks. Additionally, NVIDIA was extremely well-positioned to capitalize on the early opportunity of AI, which has proven very beneficial for it as the company has been able to maintain its extraordinary growth and it's dominating lead in the GPU market.

For context, NVIDIA's share price has skyrocketed an astounding 2,700% over a 5-year period, with the company's share price having almost tripled in just 2024. As for Apple, the company's share price has increased 17% this year, with some industry analysts predicting Apple's share price could increase when Apple Intelligence is fully deployed. Additionally, Apple was the first company to reach a $1 trillion and $2 trillion market cap, and NVIDIA briefly surpassed Apple's market cap back in June.

Just under Apple and NVIDIA is Microsoft, with a $3.1 trillion market cap. In other NVIDIA news, the GPU maker will be replacing Intel on the Dow Industrial Average index, where the company was positioned for 25 years.

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