On Tuesday, Nvidia became the biggest company in the world, surpassing Apple, thanks to a big demand for artificial intelligence (AI) technology. According to Bloomberg, Nvidia’s value has skyrocketed by 850% since late 2022.
By the end of the day’s trading, Nvidia was worth $3.43 trillion, compared to Apple’s $3.38 trillion. This isn’t the first time they’ve switched places; Nvidia managed to outpace Apple before in June, but only for a short time.
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Recently, Apple introduced its own AI product called Apple Intelligence. However, Nvidia plays a crucial role in supplying the technology behind many of the leading AI systems. At the end of October, it was reported that OpenAI, the creator of ChatGPT, has been collaborating with Broadcom to develop its own specialized systems.
