Nvidia set to overtake Apple as world’s second-most valuable company

Source: theglobeandmail.com theglobeandmail.com

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Nvidia (NVDA-Q) could soon surpass Apple (AAPL-Q) to become the world’s second-most valuable company, as the kingmaker behind the AI revolution takes on the iPhone maker that has ruled Wall Street for decades. The reliance of virtually all artificial intelligence applications such as OpenAI’s ChatGPT on Nvidia’s high-end chips has helped the stock nearly triple in value over the past year to $2.72 trillion. In contrast, Apple ceded its No. 1 spot to Microsoft (MSFT-Q) earlier this year as the once high-flying company grapples with weak demand for its iPhones and tough competition in China. It was last valued at...