How AI chipmaker Nvidia may threaten this ‘valuable’ position of Apple

Nvidia’s stock price surged on Tuesday (May 28), reaching a record high and pushing the company’s market value closer to Apple, the current tech leader. Fueled by strong earnings and a bright future in artificial intelligence (AI), Nvidia’s shares jumped 6%, reaching a price of $1,128. This puts the company’s market capitalization at $2.8 trillion, just $100 billion shy of Apple’s $2.9 trillion value.