Nvidia on verge of overtaking Apple as No. 2 most valuable company

) rallied to record highs on Wednesday, with the AI chipmaker's stock market valuation on the verge of hitting the $3 trillion mark and overtaking Apple (NASDAQ:The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors.

The Silicon Valley chipmaker's stock was last up 4.2% at $1,212.89, giving Nvidia a market value of $2.98 trillion.Microsoft remained the world's most valuable company, with a market value of $3.14 trillion as its shares climbed 1.6%. Some investors also view Apple as lagging other technology heavyweights as they rush to build AI features into their products and services.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

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