“Nvidia overtaking Apple in market cap not only conveys that it is the biggest beneficiary of the AI infrastructure cycle, but it suggests people expect the AI boom will continue.” The chipmaker accounts for 7% of the weight of the S&P 500 Index and is ...

Nvidia on Tuesday exceeded Apple’s market capitalization to become the world’s largest company, on the strength of a global AI push. As Bloomberg notes,

Nvidia is now the world’s most valuable company, surpassing Apple in a tech shake-up that reflects the growing dominance of artificial intelligence. Nvidia’s market capitalization rose nearly 3 percent Tuesday and closed at $3.