Apple overthrown by Rs 25025160 crore Nvidia, it is now world’s second most…

Nvidia is now the second most valuable company in the world. The artificial intelligence chipmaker's valuation has crossed the 3 trillion dollar mark, overtaking Apple that was holding the position for a while now. Nvidia is now gearing up to split its stock ten-for-one which is effective on June 7. This move will likely increase its appeal to individual investors.

Nvidia is now valued at $3.012 trillion and on the other hand, Apple’s last market capitalization was last valued at $3.003 trillion. Microsoft is still the most valuable company in the world with a market cap of $3.15 trillion. According to a report by Reuters, chief executive officer at Longbow Asset Management, Jake Dollarhide said that "Nvidia is making money on AI right now, and companies like Apple and Meta are spending on AI." 

"It may be a foregone conclusion that Nvidia will overtake Microsoft as well. There's a lot of retail money that's piling in on what they see as a straight shot up." he further added. Stock of Nvidia has surged around 147% in 2024 so far as demand of the company’s top-of-the-line processors far outstripping supply.