Apple overtook Nvidia to become the world’s most valuable company with a market capitalisation of $4.88 trillion. The shift reflects changing investor sentiment towards AI, with confidence growing in Apple’s ability to monetise AI through services, hardware and its ecosystem.
Apple overtook Nvidia on Friday to become the world's most valuable company, reflecting a shift in investor sentiment as the market reassesses artificial intelligence (AI) opportunities. Apple was valued at $4.88 trillion, while Nvidia's market capitalisation slipped to about $4.86 trillion after its shares fell 3.5%, Reuters reports.
The change marks Apple's return to the top for the first time since April last year after Nvidia had held the position for nearly a year. The development suggests investors are looking beyond the most obvious AI beneficiaries and broadening their bets across the technology sector.
Investor Confidence Moves Beyond AI Spending
"Apple was seen as a laggard in the AI race because it wasn't spending to develop models, but now sentiment has changed," said Toni Meadows, head of investment at BRI Wealth Management.
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