Apple has once again become the world's most valuable company, leaving Nvidia behind, reports infohub.kz.
On Friday, the Cupertino-based company reclaimed the top spot in market capitalization as investor confidence in its artificial intelligence strategy and steady demand for iPhones strengthened.
During trading, Nvidia's shares fell roughly 4%, reducing its market value to about $4.8 trillion. Meanwhile, Apple reached an estimated valuation of $4.9 trillion, temporarily taking the top position among the world's most valuable companies.
Although Nvidia later partially recovered, the situation clearly showed that investors are no longer inclined to automatically price any AI-related company at maximum growth scenarios.
Nvidia's surge has been one of the most remarkable in stock market history. Since the start of 2023, its shares have risen over 1,200%, transforming the gaming GPU maker into a key supplier of hardware for the global AI revolution.
Today, Nvidia's chips are used in data centers that train major AI models from companies like OpenAI, Anthropic, Google, and other tech giants.
However, the market is increasingly questioning whether multibillion-dollar investments in AI infrastructure will meet expectations. Rising competition and new solutions are prompting investors to more cautiously assess Nvidia's future earnings.
Unlike Nvidia, Apple has not actively joined the race to build the largest AI models. The company has adopted a more cautious strategy—embedding artificial intelligence directly into its devices and services.
A key step was the update to the voice assistant Siri, which received positive initial feedback. Amid expectations of new AI-powered features, Apple's shares have risen about 20% since late June.
Apple's main advantage remains unchanged: a massive user base, a strong brand, and the ability to turn new technologies into mass-market products.