Money blog: Apple overtaken as world's second most valuable company

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Nvidia has overtaken Apple to become the world's second most valuable public company; Disfrutar in Barcelona has been named the world's best restaurant; there's a new cola-flavoured Jaffa Cake launching. Read these and the rest of today's consumer news in the Money blog.

Nvidia has overtaken Apple to become the world's second most valuable public company.The AI microchip maker's share price has risen to be worth more than $3trn for the first time. Only Microsoft is a more valuable company listed on a stock exchange, while Apple has fallen into third place.Nvidia shares rose 5% after a year of growth - with one share now costing $1,224.40 .Nvidia's chips are powering much of the rush into AI, which has seen it become a poster child of the AI boom.

Demand for its processors from the likes of Google, Microsoft and Facebook owner Meta have been outstripping supply. Nvidia's shares - up nearly 150% so far this year - are also being boosted by an upcoming move to split its stock by 10-to-one on Friday. Ian Coatsworth, investment analyst at AJ Bell, said the stock split will 'bring its share price down and make it more affordable to investors'.

 

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