Nvidia Outpaces Apple in Global Valuation

• Top Market Position: Nvidia’s market capitalization closed at $3.43 trillion on Tuesday 5 November 2024 and as a consequence, Nvidia outpaces Apple’s $3.4 trillion, cementing its place as the largest company by valuation.
• Stock Performance and Growth: Nvidia shares, which have nearly tripled in value throughout 2024, closed at $139.91. The company’s stock gained almost 3% on Tuesday, further driving its valuation upward, though it saw a slight dip in after-hours trading.
• Revenue Expectations: Nvidia is projected to nearly double its revenue in fiscal year 2025, fueled by continuous demand for AI-capable chips. This forecast suggests that Nvidia’s growth trajectory remains strong as AI becomes central to multiple industries.
• Strategic Investment in AI Chips: Nvidia’s early investment in AI-capable chips has positioned it as a key supplier in the AI hardware market. The company is the backbone of AI development, providing essential GPUs for organizations globally, particularly as demand for generative AI and large language models surges.
• Global AI Influence: Nvidia’s leadership position reflects a broader shift toward AI as a foundational economic driver, with companies across sectors increasing investment in AI to enhance capabilities, reduce costs, and drive innovation.

Why This Matters: Nvidia outpaces Apple as the world’s most valuable company. Nvidia’s ascension underscores the rapid pace at which AI is reshaping the economy and pushing valuations to new heights for companies central to this transformation. Nvidia’s market position highlights the shift toward AI as a core technology, reshaping industry priorities, stock markets, and global technological strategies. Its dominance also signals that companies with strategic positions in AI infrastructure could continue to lead in global market value.