Nvidia has surpassed Apple as the most valuable company in the world.
The generation greatly surpassed Apple as its market value reached $3.53 trillion. Companies have traded the crown back and forth this generation, with Nvidia falling again to $3.47 trillion while Apple closed the trade at $3.52 trillion.
Nvidia’s growing market value is attributed to Nvidia’s position as the primary supplier of the computing components needed in building AI.
“More and more companies are adopting artificial intelligence in their daily tasks and demand for Nvidia chips remains strong,” said Russ Mildew, chief financial officer at AJ Bell, in a conversation with Reuters.
“It’s certainly in a sweet spot and as long as we avoid a major economic downturn in the United States, there’s a sense that companies will continue to invest heavily in AI capabilities, creating a healthy tailwind for Nvidia.”
Nvidia is expected to announce its 50 graphics cards soon. Retail listings for the RTX 5050, 5060, 5070, 5080, and 5090 were found online, suggesting the announcement could be getting closer.
Nvidia may even provide parts for Nintendo’s upcoming successor, Nintendo Switch.
Nintendo plans to announce its next console during its current fiscal year, which runs through March 31, 2025.
In August, it was claimed that developers had been informed that they did not expect Nintendo’s next console to be released before April 2025.
