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NVIDIA has its "iPhone moment" with a $3 trillion market valuation to be the second-most valuable company ahead of Apple

Jun 06, 2024 - windowscentral.com
NVIDIA has surpassed Apple to become the world's second most valuable company, with a market capitalization of over $3 trillion. This success is attributed to the rising demand for GPUs to foster AI advances. Meanwhile, Apple's reluctance to invest in cutting-edge technology has reportedly caused it to lag behind. However, Apple is expected to join the AI competition during WWDC 2024 and integrate advanced technology across its devices to compete with Microsoft.

In other news, Microsoft and OpenAI are investing over $100 billion in a project named Stargate, aiming to reduce their dependence on NVIDIA for AI chips. Apple and OpenAI have also reportedly struck a deal to bring AI technology to the iPhone, potentially replacing Siri. This move has raised concerns for Microsoft, OpenAI's largest investor. Despite these developments, it remains to be seen if Apple can reclaim its title as the world's most valuable company.

Key takeaways:

  • NVIDIA has surpassed Apple to become the second most valuable company in the world, with a market capitalization of over $3 trillion.
  • The rise in NVIDIA's value is attributed to the increasing demand for GPUs to foster AI advances.
  • Apple is reportedly planning to join the AI competition during WWDC 2024, integrating advanced technology across its devices to compete with Microsoft.
  • Microsoft and OpenAI have reportedly invested over $100 billion in a project named Stargate, which could potentially reduce their dependence on NVIDIA for AI chips.
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