Nvidia's stock surged 5.2% to reach $1,224.40, pushing its market valuation to a record $3.012 trillion and overtaking Apple's $3.003 trillion, making it the world's second most valuable company. This rally is driven by strong demand for Nvidia's AI processors, with its stock up 147% in 2024. Nvidia plans a ten-for-one stock split effective June 7.
While Nvidia capitalizes on AI, Apple faces weak iPhone demand and competition in China. Nvidia's CEO Jensen Huang has gained significant media attention. Microsoft remains the most valuable company at $3.15 trillion. Nvidia's rise reflects a broader AI-driven boost in chip stocks.
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