Nvidia Surges to Record Highs, Becoming World's Second Most Valuable Company

Chipmaker's Market Cap Nears $3 Trillion, Overtaking Apple

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Nvidia's (NASDAQ: NVDA) shares skyrocketed to record highs on Wednesday, May 31, bringing the AI chipmaker's market valuation close to the $3 trillion mark. This remarkable surge has propelled Nvidia to surpass Apple (NASDAQ: AAPL) to become the world's second most valuable company.

Nvidia's stock surpassed $3 trillion for the first time ever, a significant milestone that underscores the company's dominance in the rapidly growing artificial intelligence (AI) market. Despite Apple's impressive year-to-date gains of approximately 17%, Nvidia's meteoric rise has overshadowed the Cupertino-based tech giant.

Earlier this week, Nvidia CEO Jensen Huang hinted at the company's ambitious plans, while analysts speculate that the chipmaker may announce a new line of products.