Nvidia back to challenge Apple as world’s most-valuable company; analysts see ‘Prisoner’s Dilemma’ of IT companies behind the rally

Nvidia’s stock continued its upward trajectory, reaching near-record highs on Monday. This surge positions the AI chipmaker to potentially overtake Apple as the world’s most valuable company. Nvidia has been the biggest beneficiary of the AI boom, as companies including Meta, Google, Microsoft and Oracle continue to unveil technologies and products that require hige investments in its graphics processing units, or GPUs.