NVIDIA's stock price surged last week after the Trump administration lifted restrictions on global countries buying artificial intelligence (AI) chips and invested hundreds of billions in AI data centers in Saudi Arabia and the United Arab Emirates. Their market value has returned to $3 trillion and today NVIDIA overtook Apple as the world's second most valuable company.
At the time of writing, NVIDIA has a market value of $3.302 trillion (~RM 14.18 trillion) ahead of Apple's $3.155 trillion (~RM 13.55). Microsoft still holds the top spot with a market value of $3.376 trillion.
With the market trend still pointing to a positive trend, it would not be surprising if NVIDIA overtook Microsoft this week. The first time NVIDIA occupied this spot was in November 2024, buoyed by various reports of AI chip purchases by technology companies such as Meta, Google, Microsoft and xAI.