Nvidia overtakes Apple as No. 2 most valuable company

News Snapshot:

Nvidia’s rallied to record highs on Wednesday, with the artificial intelligence chipmaker’s valuation breaching the $3 trillion mark and overtaking Apple to become the world’s second most valuable company. Nvidia is preparing to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors. The surge in Nvidia’s market value above Apple’s marks a shift in Silicon Valley, which the company co-founded by Steve Jobs has dominated since it launched the iPhone in 2007. Advertisement Nvidia’s stock rose 5.2% to end the day at $1,224.40, valuing the company at $3.012 trillion. Apple’s market...