Apple overtakes Nvidia as world’s most valuable company as investors shift AI bets

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Apple AAPL-Q overtook Nvidia NVDA-Q on Friday to become the world’s most valuable company, reshuffling the top ranks of tech heavyweights as investors reassess the outlook for artificial intelligence. Apple was last valued at US$4.88-trillion as its shares held steady, while Nvidia was roughly at US$4.86-trillion, following a 3.5-per-cent decline. The shift in the pecking order illustrates that investors are broadening their focus beyond the most obvious beneficiaries of the AI boom, such as Nvidia, which had been at the helm for nearly a year. Apple is reclaiming the top spot for the first time since April last year. “Apple…

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