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Nvidia tops $3trn in market value, leapfrogging Apple

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The last time Nvidia was worth more than Apple was in 2002, five years before the first iPhone was released.

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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