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Nvidia Surpasses Apple with $3.53 Trillion Market Cap, Becomes World's Most Valuable Company

Oct 25, 2024, 04:12 PM

Nvidia Corporation has overtaken Apple Inc. to become the world's most valuable company, with a market capitalization reaching $3.53 trillion, surpassing Apple's $3.52 trillion. This milestone, achieved on Friday, reflects the surging demand for Nvidia's specialized chips used in artificial intelligence applications. Nvidia's valuation now exceeds the combined market capitalization of several G7 countries' stock markets, including Canada ($3.3 trillion), the United Kingdom ($3.2 trillion), France ($3.1 trillion), Germany ($2.5 trillion), and Italy ($0.8 trillion). Remarkably, Nvidia's market cap is more than four times that of Italy's entire stock market and represents over 50% of Japan's market. Torsten Sløk, Apollo Chief Economist, noted that "Nvidia is now bigger than the total market cap of five of the G7 countries," highlighting the company's unprecedented growth. This marks the second time this year that Nvidia has briefly overtaken Apple in market value, as its stock reaches near all-time highs amid the AI boom, positioning it as a dominant force in the global market.