By Edith Loyola 
The technology firm Nvidia has once again overtaken Apple, achieving a market capitalization of $3.4 trillion, making it the most valuable publicly traded company in the world. Nvidia reached this significant milestone on Tuesday, marking the second time it has displaced Apple from the top.
According to reports, Nvidia’s stock registered a 3% increase by the close of the Wall Street trading session, bringing its valuation up by 182% year-to-date. This impressive growth has been driven primarily by the expansion of its graphics processing units (GPUs) and the rising demand for its artificial intelligence services.
“In June, Nvidia had already managed to surpass Apple in market value, though only for a few hours,” financial experts remarked.
Nvidia’s Leadership in the Artificial Intelligence Sector
Founded in 1991, Nvidia has transformed into a key player in artificial intelligence, earning it recognition in 2023 as “Wall Street’s darling.” This prominent position reflects its role as the leading provider of graphics processing units, essential to applications such as OpenAI’s chatbot, ChatGPT.
During its first fiscal half, spanning February through August, Nvidia reported a net profit of $31.48 billion, a year-over-year increase of 282%. This growth trend has been attributed to the high demand for its AI-related products.
Last week, the Dow Jones index committee announced that Nvidia will replace Intel in this index on November 8. According to sources within the index, this move ensures “more accurate representation of the semiconductor industry” in the market, emphasizing Nvidia’s increasing influence in this pivotal sector.
Apple Remains Competitive, but Nvidia Leads the Tech Giants
For its part, Apple has maintained its growth in the market despite Nvidia’s ascent. The company’s shares have risen by 17% so far this year. Notably, Apple was the first company to achieve market capitalizations of $1 trillion and later $2 trillion.
Currently, the five most valuable companies in the market are all tech giants, led by Nvidia, followed by Apple, Microsoft, Amazon, and Alphabet. This ranking underscores the tech sector’s dominance in market capitalization and its central role in the global economy.