Nvidia Surpasses Apple As World’s Second Most Valuable Company

Nvidia has overtaken Apple to become the world's second-most valuable public company. The chipmaker made this achievement as its stock market value hit $3 trillion on Wednesday. The California-based chip designer is the third company in the United States, behind Apple and Microsoft, to cross the $3 trillion mark. Software giant Microsoft is currently the world's most valuable company, with a market value of $3.14 trillion.

Reports suggest that Nvidia's shares have climbed nearly 200% over the past 12 months. This is mainly because artificial intelligence (AI) is reshaping the computer chip industry, and Nvidia is the dominant supplier of chips required to train and operate large generative AI models. According to a BBC report, OpenAI's ChatGPT was trained using 10,000 of Nvidia's graphics processing units (GPUs) clustered together on a Microsoft supercomputer.

The company recently unveiled its next-generation AI chip platform, named "Rubin." It is set to be rolled out in 2026. The Rubin platform will succeed Blackwell, which supplies chips for data centers. Jensen Huang, CEO of Nvidia, said in an address at National Taiwan University in Taipei that Rubin will feature new GPUs, a new central processing unit (CPU) called Vera, and advanced networking chips.