Nvidia Surpasses Apple to Become Second Most Valuable Company

Nvidia has overtaken Apple to become the world's second most valuable public company. The AI microchip maker's share price has risen to be worth more than three trillion dollars. Only Microsoft is a more valuable company listed on a stock exchange, while Apple has fallen into third place.

Nvidia has overtaken Apple to become the world's second most valuable public company.

The AI microchip maker's share price has risen to be worth more than three trillion dollars (£2.34 trillion).

Only Microsoft is a more valuable company listed on a stock exchange, while Apple has fallen into third place.

Nvidia shares rose 5% on Wednesday, with one share now costing one thousand two hundred twenty-four dollars and forty cents (£957).

A year ago, a share was priced at three hundred eighty-six dollars and fifty-four cents (£302), but investors have flocked to the firm to invest in AI.

As recently as February, Nvidia was valued at one trillion dollars less than now, but fresh interest was created after it announced a 'stock split,' which will take place on Friday.

Such a move will increase the number of shares available so more people can invest and reduce the share value as a result.

The value of public companies is measured by the number of shares issued and the price of those shares.

Tech companies, including Microsoft and Apple, have been racing to develop AI and embed it in their products.

Nvidia, founded in 1993 in California, has been developing microchips since its inception and has been adding machine-learning features to its products for years.

The American multinational corporation and technology company is based in Santa Clara, California.