NVIDIA dethroned Apple as the world's most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence (AI) chips.
NVIDIA dethroned Apple as the world's most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips. Nvidia 's stock market value briefly touched $3.53 trillion, slightly above Apple 's $3.52 trillion, LSEG data showed. Nvidia ended the day up 0.8 percent, with a market value of $3.47 trillion, while Apple 's shares rose 0.4 percent, valuing the iPhone maker at $3.52 trillion.
'Nvidia's shares hit a record high on Tuesday, building on a rally from last week when Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, posted a forecast-beating 54-percent jump in quarterly profit driven by soaring demand for chips used in AI.Meanwhile, Apple is struggling with tepid demand for its smartphones. iPhone sales in China slipped 0.3 percent in the third quarter, while sales of phones made by rival Huawei surged 42 percent.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nvidia overtakes Apple as world's most valuable companyLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
US weighs capping exports of AI chips from Nvidia and AMD to some countries | Mackenzie Hawkinsiden administration officials have discussed capping sales of advanced AI chips from Nvidia Corp. and other American companies on a country-specific basis, people familiar with the matter said, a move that would limit some nations’ artificial intelligence capabilities.
Read more »
Nvidia to supply chips to Reliance, other Indian companies in AI push'In the future, India is going to be the country that will export AI,;' Nvidia CEO Jensen Huang says
Read more »
Apple is for everyone: Best Apple products to purchase via Home CreditDefining the News
Read more »
US fines Apple and Goldman Sachs over Apple CardThe United States fined Apple and Goldman Sachs a total of $89 million on Wednesday, accusing them of deceiving users of the iPhone-maker's credit card.
Read more »
Boeing, workers union to resume talks on FridayBOEING and its largest union will resume contract talks on Friday in a bid to end a strike that has throttled plane production and hammered the finances of the aerospace giant, the union and company said on Wednesday.
Read more »