Nvidia set to overtake Apple as world’s second-most valuable company at $2.68 trillion

Nvidia could soon surpass Apple to become the world’s second-most valuable company, as the biggest beneficiary of the surge in adoption of AI applications takes on the iPhone maker that has been the largest Wall Street firm by market value for years.

The reliance of virtually all artificial intelligence applications such as OpenAI’s ChatGPT on Nvidia’s high-end chips has helped the stock nearly triple in value over the past year to $2.68 trillion.