Apple overtakes Nvidia again to become the world's most valuable company
Apple has once again become the world's most valuable publicly traded company - according to Reuters. The iPhone maker has overtaken Nvidia, which had held the top spot for nearly a year thanks to the artificial intelligence boom. Apple is now valued at about USD 4.88 trillion.
Apple regained the top position after its market capitalization reached around USD 4.88 trillion. At the same time, Nvidia's valuation fell to about USD 4.86 trillion following a 3.5% decline in its share price. This marks the first time since April last year that Apple has returned to the top of the global stock market rankings.
The change in leadership is not solely the result of the two companies' financial performance. An increasing number of investors believe that the growth of artificial intelligence will not benefit only graphics processor manufacturers such as Nvidia. Capital is also flowing into other companies that could play a significant role in building AI infrastructure or integrating the technology into their own products.
Apple's return to the top comes during a period of leadership transition within the company. Tim Cook is preparing to hand over the role of CEO to John Ternus, the company's long-serving head of hardware engineering. The transition is expected to take place in September. Regaining the title of the world's most valuable company could become one of the defining milestones marking the end of Cook's long tenure.
Despite the shift, analysts caution that the change at the top does not necessarily signal a lasting reversal of the trend. Nvidia remains one of the biggest beneficiaries of global spending on artificial intelligence, and its processors continue to power a substantial share of the infrastructure used to train and run AI models.
