Nvidia notches record close, could unseat Apple as most valuable company
Nvidia closed at their highest ever on Monday, putting the heavyweight AI chipmaker on the brink of dethroning Apple as the world's most valuable company.
With investors betting on strong demand for its current and next-generation AI processors, the Santa Clara, California company's stock climbed 2.4% to end the day at $138.07.
In June, Nvidia briefly became the world's most valuable company. It was overtaken by Microsoft, and the tech trio's market capitalizations have been neck-and-neck for several months.
The latest gains lifted Nvidia's market value to $3.39 trillion, just below Apple's $3.52 trillion value and above Microsoft's $3.12 trillion.
Nvidia has been Wall Street's biggest winner from a race between Alphabet, Microsoft, Amazon and other major tech companies to dominate emerging AI technology.
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