Nvidia surpasses Apple to become world’s largest company in AI era

Nvidia surpasses Apple as the world's largest company by market cap, driven by booming demand for AI technologies.
Nvidia surpasses Apple to become world’s largest company in AI era
Nvidia surpasses Apple to become world’s largest company in AI era
Published on
Updated on
2 min read

Nvidia has surpassed Apple to become the world’s largest company by market capitalization, marking a significant milestone in the era of artificial intelligence (AI).

As of Tuesday's market close, Nvidia’s value reached $3.43 trillion, overtaking Apple’s market value of $3.38 trillion.

Nvidia, led by CEO Jensen Huang, first exceeded Apple’s market cap briefly in June, but this marks a more sustained shift.

The company’s stock rose by 2.9% to $139.93, bringing its market cap to $3.43 trillion, now accounting for 7% of the S&P 500 Index.

Microsoft follows with a market capitalization of $3.06 trillion.

In its second-quarter earnings report for the period ending July 28, Nvidia reported a revenue of $30 billion, a 15% increase from the previous quarter and a 122% jump compared to the same period last year.

“Hopper demand is strong, and Blackwell anticipation is high,” said Huang. “Nvidia achieved record revenues as global data centers accelerate their transformation with advanced computing and generative AI.”

For the first half of fiscal year 2025, Nvidia returned $15.4 billion to shareholders through stock buybacks and dividends. The company still has $7.5 billion left in its share repurchase program.

Looking ahead, Nvidia expects third-quarter revenue for fiscal 2025 to be approximately $32.5 billion, with a margin of plus or minus 2%.

Nvidia will hold a conference call on November 20 to discuss its third-quarter results for fiscal year 2025, which ended on October 27. Prior to that, its CFO, Colette Kress, will provide written commentary on the results.

In response to the growing demand for AI chips, Huang has urged SK hynix to deliver its next-generation high-bandwidth memory (HBM), known as HBM4, six months ahead of schedule.

This request underscores the rising demand for Nvidia’s AI accelerators, which rely heavily on HBM chips to handle data-intensive tasks as AI evolves beyond simple text models.

Nvidia surpasses Apple to become world’s largest company in AI era
Drone technology is expected to revolutionise India’s marine fisheries sector

Related Stories

No stories found.
X
Indulgexpress
www.indulgexpress.com