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Nvidia rallies, poised to dethrone Apple as most valuable company

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Nvidia rallies, poised to dethrone Apple as most valuable company

With investors betting on strong demand for its next-generation Blackwell AI processors, the Santa Clara, California company's stock climbed 2.8% to $138.57, just short of its intraday record high of $140.76 on June 20.The latest gains lifted Nvidia's market value to $3.4 trillion, just below Apple's $3.5 trillion value and above Microsoft's $3.1 trillion.

Analysts expect spending to build out AI data centers will help Nvidia's annual revenue more than double to nearly $126 billion, according to LSEG data.

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