Nvidia overtakes Apple as second-most valuable company

News Snapshot:

Shares of Nvidia rallied to record highs on Wednesday, with the AI chipmaker’s stock market valuation hitting the $3 trillion mark and overtaking Apple to become the world’s second most valuable company. The latest rally in Nvidia comes as it prepares to split its stock 10-for-one, effective on June 7, a move that could increase its appeal to individual investors. The surge in Nvidia’s stock market value above Apple’s underscores a shift in Silicon Valley, where the company co-founded by Steve Jobs has dominated since it launched the iPhone in 2007. 3 The latest rally in Nvidia comes as it...