November 6, 2024
Nvidia Surpasses Apple as World’s Largest Company Amid AI Boom
Nvidia has seen explosive growth, with its stock soaring over 850% since the end of 2022, largely due to its dominant role in the AI sector.
On Tuesday, Nvidia Corp. surged past Apple Inc. to become the world’s largest company, highlighting the immense influence of artificial intelligence on Wall Street. Nvidia’s shares rose by 2.9% to $139.93, pushing its market capitalization to $3.43 trillion, surpassing Apple’s $3.38 trillion.
Nvidia has seen explosive growth, with its stock soaring over 850% since the end of 2022, largely due to its dominant role in the AI sector. Nvidia now accounts for 7% of the S&P 500 Index and has contributed roughly 25% to the benchmark’s 21% gain this year. Though it briefly held the top spot before, Nvidia’s achievement underscores its increasing impact on the global market.
