Nvidia Surpasses Apple as Second-Largest U.S. Company
TL;DR Summary
Nvidia's shares surged over 5%, pushing its market cap above $3 trillion for the first time and surpassing Apple as the second-largest company in the US market. The rise is driven by investor enthusiasm in AI and hopes of Federal Reserve rate cuts. Nvidia's stock has soared over 140% this year, with significant gains in its Data Center revenue. The company announced new AI chips and a stock split, but faces competition from AMD, Intel, and its own customers like Amazon and Google.
- Nvidia closes above $3 trillion for first time, overtakes Apple as second-largest co. in US market Yahoo Finance
- Nvidia briefly passes Apple as second most valuable public U.S. company CNBC
- Here Are 5 Things Smart Investors Should Know About Nvidia's 10-for-1 Stock Split The Motley Fool
- Stock Market Today: Dow, Nasdaq Rise; Nvidia, Apple Stocks in Focus The Wall Street Journal
- Nvidia overtakes Apple as No. 2 most valuable company Reuters
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