Nvidia on verge of overtaking Apple as No. 2 most valuable company

) rallied to record highs on Wednesday, with the AI chipmaker’s stock market valuation on the verge of hitting the $3 trillion mark and overtaking Apple (The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors.

Nvidia CEO Jensen Huang this week was the subject of wall-to-wall coverage on Taiwanese television and was mobbed by attendees when he visited the Computex tech trade fair in Taipei, where he was born before moving to the United States. While Nvidia rides a wave of AI enthusiasm on Wall Street, Apple is struggling with weak demand for iPhones and tough competition in China, the world’s biggest smartphone market.

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