Nvidia Rides Wave of AI Interest to Overcome Apple as the Second-Most Valuable Company from computer chair Watch Video

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✓ Published: 07-Jun-2024

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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%