Nvidia hits $3tn and surpasses Apple as world’s second

AI chipmaker’s stock has surged 147% so far in 2024, underscoring shift in tech world as demand for its processors far outstrip supply

Shares of Nvidia rallied to record highs on Wednesday, with the artificial-intelligence chipmaker’s stock market valuation hitting the $3tn mark and overtaking Apple to become the world’s second most valuable company.

The chipmaker’s stock was up 5.16% at $1,224.40, giving Nvidia a market value of $3.01tn at market close. Apple’s market capitalization was at $3.00tn at market close as its stock climbed 0.78%.