Nvidia could soon overtake Apple as the second-most valuable company in the world, only behind Microsoft. Nvidia has been doing very well for itself in recent years because it powers ChatGPT.
Nvidia could overtake Apple to become the world’s second-most valuable company soon thanks to the boost it has received from AI. Nvidia hardware largely powers OpenAI’s ChatGPT software and that is in widespread use by third-party AI applications; this demand is benefiting Nvidia and increasing its value.
According to Google Finance, Apple has a market cap of $2.95 trillion whereas Nvidia’s market cap is $2.7 trillion. Reuters explains that Nvidia is still benefiting from the AI boom but Apple is currently struggling with weak iPhone demand and significant competition in China.
