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Chipmaker giant Nvidia overtook Apple on Tuesday to become the world’s most valuable company as its artificial intelligence boom continues to excite Wall Street.
Shares of the artificial intelligence giant rose 2.9 percent to $139.93, increasing its market value to $3.43 trillion, ahead of Apple’s $3.38 trillion.
Nvidia previously became the most traded company in June, although it only held the record for one day. It is currently worth more than Amazon and Meta combined.
The world’s largest technology companies have invested tens of billions of dollars in Nvidia’s powerful AI technology, which is the central element for training powerful generative AI systems like OpenAI’s ChatGPT or Google’s Gemini.
Nvidia on Friday will join the Dow Jones Industrial Average, underscoring the stratospheric rise of the company whose stock price has risen more than 850 percent since the end of 2022 when the release of ChatGPT sparked the AI ​​craze.
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