Nvidia overtakes Apple as No 2 most valuable company

Nvidia rallied to record highs yesterday with the artificial intelligence chipmaker's valuation breaching the $3 trillion mark and overtaking Apple to become the world's second most valuable company.

The surge in Nvidia's market value above Apple's marks a shift in Silicon Valley, which the company co-founded by Steve Jobs has dominated since it launched the iPhone in 2007. Microsoft MSFT.O, based in Redmond, Washington, remained the world's most valuable company at $3.15 trillion afterits shares climbed 1.9%.

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