Apple unseats Nvidia as world’s most valuable company as AI bets shift

• Apple overtook Nvidia to become the world’s most valuable listed company, reaching a market value of about $4.88 trillion.
• Apple shares were steady during the crossover, while Nvidia declined 3.5% to a valuation of about $4.86 trillion.
• Analysts linked Apple’s changing AI outlook to its services, hardware ecosystem and lower dependence on heavy infrastructure spending.

Apple (NASDAQ:AAPL) overtook Nvidia (NASDAQ:NVDA) as the world’s most valuable company, reaching $4.88 trillion against Nvidia’s $4.86 trillion.

Nvidia had held the position since June 2025, while Apple reclaimed it for the first time since April 2025.

“Apple was seen as a laggard in the AI race,” said BRI Wealth Management Head of Investment Toni Meadows.

Apple introduced its redesigned Siri AI in June, while John Ternus is scheduled to replace Tim Cook as CEO on September 1.

Following the announcement, Apple's share price was up 0.2% at $333.99.

Analysts said Apple could monetise AI through services and hardware upgrades, although accessing personal data while protecting privacy remains a challenge.

Nvidia remains a major AI-chip supplier, while Micron and SK Hynix have attracted investor attention as AI spending expands into memory technology.