U.S. chipmaker Nvidia briefly overtook Apple to become the world’s second most valuable company by market capitalization on June 5 before dipping back into third place.
The movement occurred as Nvidia’s cap surged to over $3.01 trillion, pulling it within a stone’s throw of Microsoft’s first place cap of $3.1 trillion. Not to be outdone, Apple retook its position as U.S. markets opened on June 6, climbing back into second place with a valuation of $3.007 trillion as of the time of this article’s publication. In the same time frame Nvidia remains in third place at a valuation of $2.973.
These numbers represent new all-time highs for both Nvidia and Apple as well as the NASDAQ and S&P 500 with further movement expected in the coming days.Microsoft has maintained its lead — and currently remains the most valuable company of all time by market capitalization. However, a shifting global technology landscape combined with impending product launches, partnerships, and potential regulatory action could cause shake ups throughout the leaderboards.
Not only do Microsoft and Google use Nvidia chips, but so do other industry leaders such as OpenAI, Amazon, and Elon Musk’s suite of AI companies which includes Tesla and xAI.