Nvidia briefly surpasses Apple as most valuable company before market close, hitting US$3.53T Singapore News

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Nvidia briefly surpassed Apple on Friday, Oct 25, becoming the world’s most valuable company as its stock soared, fuelled by strong demand for its artificial intelligence chips.

Nvidia’s market value reached US$3.53 trillion , just ahead of Apple’s US$3.52 trillion , according to data from LSEG.

Nvidia and other semiconductor stocks were boosted on Friday after data storage company Western Digital reported stronger-than-expected quarterly profits, boosting hopes for continued data centre demand. This recent surge followed a 54 per cent quarterly profit jump by TSMC, the world’s largest contract chipmaker, driven by high demand for AI chips.

 

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