Nvidia surpasses Apple to become the second-largest public company in the US

The AI chipmaker’s market capitalization rose to $3.019 trillion on Wednesday, nudging slightly past Apple’s also $2.99 trillion market cap and making it the second-largest publicly traded company in the US by that measure, just behind Microsoft’s market cap of $3.15 trillion. Nvidia is now the third company in the US, behind Apple and Microsoft, to cross that $3 trillion mark. Shares of the Santa Clara-based chipmaker rose 5.2% to about $1,224.

Earlier this week, Jensen Huang, CEO of Nvidia, said that the company would roll out its most advanced AI chip platform, called Rubin, in 2026. The Rubin platform will succeed the Blackwell, which supplies chips for data centers and was announced only in March. It was dubbed by Nvidia at the time as the “world’s most powerful chip.” Nvidia accounts for around 70% of AI semiconductor sales and some analysts think the stock has further to go.

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