Santa Clara: On Friday, Nvidia briefly surpassed Apple in market value, reaching $3.53 trillion compared to Apple’s $3.52 trillion, as rising demand for AI chips bolstered Nvidia's stock. By day’s end, Nvidia settled at $3.47 trillion while Apple regained a slight edge at $3.52 trillion after a small stock increase.

The tech giant rankings have fluctuated over recent months, with Apple, Nvidia, and Microsoft frequently exchanging top positions. Currently, Microsoft holds a $3.18 trillion valuation. Nvidia’s dominance in the AI processor market pits it against competitors like Microsoft, Alphabet, and Meta in the race for AI leadership.

Nvidia’s stock rose 18% this month, fueled by OpenAI’s recent $6.6 billion funding announcement and positive data center demand following Western Digital’s strong earnings report. Analysts view Nvidia as strategically positioned to benefit from AI’s growth trajectory, with AJ Bell’s Russ Mould noting that stable economic conditions in the U.S. could further boost AI investments and Nvidia’s success.