Nvidia market value hits $3.43 trillion, becomes world’s most valuable, surpassing Apple

Shares of Nvidia surged, surpassing Apple’s market value for the second time, becoming the world’s most valuable company.

Nvidia’s stock rose about 3%, bringing its market value at the close of trading yesterday to $3.43 trillion, surpassing Apple’s market value of $3.4 trillion.

Nvidia’s stock has tripled in value this year, as investors have shown continued confidence in the company’s ability to maintain rapid growth from its graphics processing units (GPUs) and its leadership position in the artificial intelligence market.

Nvidia’s rise was also driven by the announcement Friday afternoon that it will replace Intel in the Dow Jones Industrial Average, a milestone that reflects the company’s importance to the technology sector.

The company is scheduled to enter the index next Friday.

Meanwhile, Apple’s stock has been under pressure from a notable move by one of its largest shareholders, Berkshire Hathaway, led by Warren Buffett, who revealed over the weekend that he had made another major sale of his Apple shares.

Nvidia briefly overtook Apple to become the world’s largest company on October 25, but it has not held that position since the close of trading in June.

Nvidia has seen extraordinary financial growth, with its net income rising from $2.3 billion in the first half of 2022 to $31.5 billion in the same period in 2024, a significant increase driven by growing demand for its AI technologies.

Over the past two years, Nvidia’s stock price has risen 850%, reflecting strong investor confidence and the company’s dominant position in the semiconductor market, particularly in AI accelerators.