Nvidia rallies, poised to dethrone Apple as most valuable company

Shares of Nvidia neared record highs on Monday, putting the heavyweight AI chipmaker on the brink of dethroning Apple as the world’s most valuable company.

With investors betting on strong demand for its next-generation Blackwell AI processors, the Santa Clara, California company’s stock climbed 2.8% to $138.57, just short of its intraday record high of $140.76 on June 20. In June, Nvidia briefly became the world’s most valuable company. It was overtaken by Microsoft, and the tech trio’s market capitalizations have been neck-and-neck for several months.