Nvidia’s market valuation surpassed Apple’s on Tuesday, making it the world’s most valuable publicly traded business once more.
TakeAway Points:
- Nvidia’s market valuation overtook Apple’s, making it the world’s most valuable publicly traded business once more.
- Nvidia’s stock increased by 171% in 2024 and by about 239% in 2023.
- The first business to hit the $1 trillion, $2 trillion, and $3 trillion market capitalisation milestones was Apple.
- Oracle will be involved in a joint venture for artificial intelligence infrastructure in the U.S. that President Trump will announce.
Nvidia shares grow
Shares of the chipmaker rose over 2% on Tuesday, and shares are up about 5% so far in 2025 after rising 171% in 2024 and nearly 239% in 2023, reflecting insatiable demand for the company’s artificial intelligence chips.
Meanwhile, Apple shares slid 3% on Tuesday. They’re now down 11% this year after gaining 30% in 2024. The iPhone maker has developed its Apple Intelligence suite of AI features for its phones and laptops, but its business doesn’t have the same level of exposure to the AI boom.
Nvidia has the vast majority of market share for graphics processing units, or GPUs, which have become essential for developing and deploying AI software such as OpenAI’s ChatGPT. While revenue growth has slowed, it still nearly doubled to $35.08 billion in the most recent quarter.
According to the report, Apple was the first company to reach the $1 trillion, $2 trillion and $3 trillion market cap milestones. Nvidia previously passed Apple in June and then again in November.
At Tuesday’s close, Nvidia had a market cap of about $3.45 trillion, versus Apple at $3.35 trillion.Microsoft is just behind them at $3.2 trillion. A major buyer of Nvidia’s GPUs, Microsoft said earlier this month that it expected to spend $80 billion on AI data centers in fiscal 2025.
In November, Nvidia joined the Dow Industrial Average, replacing Intel, and joining Apple and Microsoft in the blue-chip index.
Oracle shares jump 7% on involvement in AI infrastructure
Oracle shares jumped 7% on Tuesday on reports that the software maker is involved in a joint venture with OpenAI and SoftBank to build artificial intelligence infrastructure in the U.S.
President Donald Trump, who returned to the White House on Monday, will announce the plans. CBS News was first to report on the deal. The plans call for $100 billion initially and as much as $500 billion over four years.
Oracle shares soared 58% in 2024, their best performance since 1999, boosting co-founder and chairman Larry Ellison’s net worth by over $75 billion. Ellison has connections to the White House, having hosted a fundraiser for Trump in 2020 and allied himself with Tesla CEO Elon Musk, who appeared at Trump’s inauguration on Monday after advising him for months.
Oracle is also the cloud infrastructure provider for TikTok, which went dark over the weekend in response to a law passed by Congress and signed by former President Joe Biden. TikTok said it was restoring service to U.S. users starting Sunday night.
Last year Oracle picked up cloud business from artificial intelligence startup OpenAI, which needs large numbers of Nvidia graphics processing units to train and run AI models for its ChatGPT assistant and other products.
