Nvidia catches Apple in race to world’s most valuable company

Nvidia’s (NASDAQ:NVDA) 2% bump during Friday market action placed the king of artificial intelligence even with Apple (NASDAQ:AAPL) as one of the world’s two most valuable companies.

As of noon trading, Nvidia and Apple both boasted market capitalizations of $3.52T. The next highest market cap goes to Microsoft (NASDAQ:MSFT) at $3.2T.

Nvidia has enjoyed a meteoric market cap rise, to say the least. No company on the planet has benefited from the AI revolution in such a dramatic fashion, as its market cap has more than tripled in less than a year. This time last year, the Jensen Huang-led dynamo firm was valued at $1T.

In comparison, Apple reached the $3T market cap milestone in July 2023. Microsoft’s market cap one year ago was around $2.5T.

Still, looking longer term, all of these companies have benefitted from unprecedented gains in market cap valuations. If you go back to 2019, not one of these companies was valued at $1T. Nvidia’s cap at the time was only about $100B.