Nvidia Mcap hits $3.53 trillion on AI frenzy, dethrones Apple to become world’s most valuable company

Nvidia dethroned Apple as the world’s most valuable company on Friday, October 25, following a record-setting stock rally powered by frenzied demand for its specialized artificial intelligence (AI) chips. According to Reuters, Nvidia’s stock market value briefly touched $3.53 trillion, slightly above Apple’s $3.52 trillion.

Shares of the chip-making giant rose around three per cent, with a market value of $3.52 trillion, while Apple’s shares rose 0.9 per cent, valuing the iPhone maker at $3.54 trillion.