Nvidia officially passed Apple as the world’s second-most valuable company at the close of Wednesday’s market. The artificial intelligence boom in the last year helped the chipmaker claim the second spot. It now sits behind only Microsoft.
The company’s market cap climbed over the $3 trillion mark for the first time, which put it over the iPhone manufacturer. At Wednesday’s stock market close, Nvidia stood at $3.019 trillion while Apple was at $2.99 trillion. Microsoft stood above both at $3.15 trillion.
Nvidia is the current belle of the corporate ball. They brought in $14.9 billion net income last quarter on a revenue of $26 billion.
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