Computer and console part manufacturer Nvidia recently became the world’s most valuable company, beating out tech giant Apple in terms of market value. Nvidia is a brand many hardcore PC gamers will recognize thanks to its line of cutting-edge processor chipsets, which have been used to power high-end gaming rigs and office workspaces alike. Recently, the company celebrated the 25th anniversary of its Nvidia GeForce 256, which helped put Nvidia on the map back in 1999.

In more recent years, Nvidia has enjoyed continued success as one of the biggest chipset makers in the gaming market, with its most recent processor line being the GeForce 40 series which was started in 2022. The ray-tracing provided by Nvidia's RTX line in particular has attracted attention by allowing for more realistic graphics in games like Dragon's Dogman 2 and Marvel's Spider-Man: Miles Morales. Earlier this month, Nvidia’s stock value hit a record high of $143.71 per share, along with a $3.4 trillion market cap that put it in league with Apple.

Nvidia Stock Price Hits New High

As Nvidia works on its upcoming series of new graphics cards, the company's stock rises in the market and hits an all-time high.

The two companies would trade the top position as the world’s most valuable company, and Reuters recently reported that Nvidia has officially taken the lead over Apple with a market value of $3.53 trillion as of October 25. This recent surge in market value is said to be the result of Nvidia being a leading provider of computing parts used in the development of AI, with AJ Bell investment director Russ Mould saying that “more companies are now embracing artificial intelligence in their everyday tasks and demand remains strong for Nvidia chips.”

Nvidia Overtakes Apple as World’s Most Valuable Company

Mould believes that as long as the United States avoids “a big economic downturn,” companies will continue to invest in AI capabilities, leading to even more revenue and market value for Nvidia. Even outside of AI, Nvidia is reportedly getting ready to reveal the RTX 5000 series of graphics cards this coming January, and is said to be providing parts for Nintendo’s next console, which is supposedly going to be unveiled sometime before the end of the current fiscal year in March 2025.

The use of AI in gaming remains a controversial subject, but the development of the technologies behind it seems to be a boon for Nvidia as it continues to develop top-of-the-line processors and other parts for gaming PCs and consoles alike. Only time will tell if Nvidia can hold onto its current spot as the world’s most valuable company, but with the RTX 5000 series being right around the corner, the future is looking pretty bright for the prominent tech developer.