Nvidia tops $3trn in market value, leapfrogging Apple

Nvidia Corp was already the world’s most valuable semiconductor firm. Now, it’s become the first computer-chip company ever to hit $3 trillion in market capitalization.

Nvidia has shown no signs of slowing down or letting its rivals catch up; the company’s Chief Executive Officer Jensen Huang said the firm plans to upgrade its so-called AI accelerators every year. Wednesday’s stock gain increased his wealth by more than $5 billion to $107.4 billion, according to the Bloomberg Billionaires Index.

“We see this sea change as in the very early innings,” said Angelo Zino, senior equity analyst at CFRA Research.

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