Nvidia surpassed Apple on Tuesday to become the world’s largest company by market capitalization, driven by significant growth in the artificial intelligence sector. According to Bloomberg, the chipmaker has seen a remarkable 850% rise in value since late 2022.
By the close of trading, Nvidia’s valuation reached $3.43 trillion, surpassing Apple’s $3.38 trillion. This isn’t the first time Nvidia has taken the lead; it briefly held the top position in June before Apple regained it.
Apple recently introduced a smaller-scale AI model called Apple Intelligence, signaling its entry into generative AI. Nvidia, however, continues to play a critical role in supporting many of the world’s leading large language models. Meanwhile, reports from Reuters in October noted that OpenAI, creator of ChatGPT, has been working with Broadcom on developing its own systems, potentially reducing reliance on Nvidia in the future.
