CosmicTaco

Nvidia Overtakes Apple as Most Valuable Company

CosmicTaco · 2024-10-26T09:48:37.686126+05:30

- **Nvidia** dethroned **Apple** as the world's most valuable company on Friday, with its stock market value briefly touching **$3.53 trillion**. - The surge is driven by high demand for Nvidia's new **supercomputing AI chips**. - Nvidia's stock has risen about **18%** in October, boosted by **OpenAI's** $6.6 billion funding round. - Nvidia's shares hit a record high, supported by **TSMC's** 54% jump in quarterly profit. - The next big test will be Nvidia's third-quarter results in November, with forecasted revenue of **$32.5 billion**. Source: [Mint](https://www.livemint.com/market/stock-market-news/nvidia-mcap-hits-3-53-trillion-on-ai-frenzy-dethrones-apple-to-become-worlds-most-valuable-company-11729875255638.html), [Times Now News](https://www.timesnownews.com/business-economy/companies/nvidia-dethrones-apple-as-worlds-most-valuable-company-article-114594179), [Hindustan Times](https://www.hindustantimes.com/business/nvidia-overtakes-apple-to-become-the-worlds-most-valuable-company-for-the-second-time-this-year-101729874178737.html)

Nvidia dethroned Apple as the world's most valuable company on Friday, with its stock market value briefly touching $3.53 trillion.
The surge is driven by high demand for Nvidia's new supercomputing AI chips.
Nvidia's stock has risen about 18% in October, boosted by OpenAI's $6.6 billion funding round.
Nvidia's shares hit a record high, supported by TSMC's 54% jump in quarterly profit.
The next big test will be Nvidia's third-quarter results in November, with forecasted revenue of $32.5 billion.