Nvidia Reclaims $4.92 Trillion Top Spot as Apple Briefly Overtakes It
Updated
Updated · Fox Business · Jul 17
Nvidia Reclaims $4.92 Trillion Top Spot as Apple Briefly Overtakes It
3 articles · Updated · Fox Business · Jul 17
Summary
Nvidia finished Friday as the world’s most valuable company at $4.92 trillion, edging Apple’s $4.89 trillion after Apple briefly held the lead earlier in the session.
Investor scrutiny of AI spending drove the intraday reversal, with markets weighing whether heavy outlays on models and data centers will produce near-term profits.
Apple rose 0.14% while Nvidia fell 2.21%, but Apple’s early gains faded as Nvidia pared losses before the close.
Apple’s surge reflected a view that it can monetize AI through services, ecosystem lock-in and hardware upgrades without the same capital intensity facing AI infrastructure leaders.
The reshuffle also points to a broadening AI trade, with investors looking beyond the Magnificent Seven as expected IPOs from OpenAI and Anthropic and SK Hynix’s Nasdaq listing widen the field.