Nvidia Rides Wave of AI Interest , to Overcome Apple as the, Second-Most Valuable Company.<br />'The Independent' reports that Nvidia has overtaken <br />Apple as the world's second-most valuable company, <br />with an estimated value of over $3 trillion.<br />'The Independent' reports that Nvidia has overtaken <br />Apple as the world's second-most valuable company, <br />with an estimated value of over $3 trillion.<br />The chipmaker has seen share values skyrocket <br />amid speculation about artificial intelligence, which <br />is powered by chips like those produced by Nvidia.<br />The growing interest in AI has made Nvidia <br />the biggest company in Silicon Valley, <br />allowing it to unseat Apple. .<br />The growing interest in AI has made Nvidia <br />the biggest company in Silicon Valley, <br />allowing it to unseat Apple. .<br />Meanwhile, the iPhone maker has seen <br />its own value fall amid concerns such as<br />dwindling sales in the Chinese market.<br />Nvidia now has plans to split its stock <br />ten-for-one on June 7, a decision that has <br />the potential to attract more individual investors.<br />Nvidia is making money on AI <br />right now, and companies like Apple <br />and Meta are spending on AI, Jake Dollarhide, chief executive officer at <br />Longbow Asset Management, via 'The Guardian'.<br />It may be a foregone conclusion <br />that Nvidia will overtake Microsoft <br />as well. There’s a lot of retail money <br />that’s piling in on what they <br />see as a straight shot up, Jake Dollarhide, chief executive officer at <br />Longbow Asset Management, via 'The Guardian'.<br />So far in 2024, Nvidia has seen its stock surge 147%, <br />rallying nearly 30% since May alone when <br />the company released its latest revenue forecast.<br />On June 5, the chipmaker added almost <br />$150 billion in market capitalization, <br />which is more than AT&T's total value.<br />The same interest in AI also drove a general rally <br />for AI chip stocks, with PHLX chip index rising <br />4.5% and Super Micro Computer climbing 4%
