Nvidia became the world’s largest company on Tuesday, surpassing Apple’s market capitalization on the back of a global AI push. As Bloomberg points out, the chipmaker has grown an astronomical 850% since the end of 2022.
Nvidia’s stock price was worth $3.43 trillion at the close of trading, higher than Apple’s $3.38 trillion. This is not the first time the two have switched positions. Nvidia also overtook Apple in June, but only held the top spot for one day.
Apple recently launched its own small-scale model generation AI product, Apple Intelligence. Nvidia, on the other hand, remains a fundamental part of the world’s top large-scale language models for now. In late October, Reuters reported that ChatGPT maker OpenAI was working with Broadcom on its own system.
