Nvidia has passed Apple as the world’s most valuable company.
The technology giant leapfroggedAppleas its market value reached $3.53 trillion. The companies have traded the crown back and forth this week, withNvidiafalling back to $3.47 trillion as Apple closed trading at $3.52 trillion.
Nvidia’s surging market value is being attributed to Nvidia’s status as a leading provider for computing parts required in the development of AI.
“More companies are now embracing artificial intelligence in their everyday tasks and demand remains strong for Nvidia chips,” said Russ Mould, investment director at AJ Bell speaking toReuters.
“It is certainly in a sweet spot and so long as we avoid a big economic downturn in the United States, there is a feeling that companies will continue to invest heavily in AI capabilities, creating a healthy tailwind for Nvidia.”
Nvidia is expected to announce its 50 series graphics cards soon. Retail listings for an RTX 5050, 5060, 5070, 5080, and 5090 have been found online, suggesting the announcement could be imminent.
Nvidia will also supply parts forNintendo‘s forthcoming successor to theNintendo Switch.
Nintendoplans to announce its next console during its current fiscal year, which runs until Jul 15, 2025.
In August, it wasclaimed that developers had been briefednot to expect Nintendo’s next console to launch before April 2025.
