FX.co ★ Apple surpasses Nvidia to become world's most valuable company again

Apple has reclaimed its position as the world’s most valuable publicly traded corporation, surpassing chipmaker Nvidia. As of July 27, shares of the iPhone manufacturer rose by 1.17%, bringing its market capitalization to $4.95 trillion. Meanwhile, Nvidia’s stock experienced a sharp decline of nearly 5%, reducing the company’s value to $4.76 trillion.

In mid-July, Apple first overtook its rival after the announcement of a new Chinese neural network, Moonshot Kimi K3, which emerged as a competitor to the flagship models from OpenAI and Anthropic. This event triggered a wave of sell-offs in Nvidia shares. Besides, reports of Nvidia’s negotiations with OpenAI regarding a massive $250 billion funding deal for data centers contributed to market nervousness. Investors are increasingly cautious about oversized deals, fearing sector overheating and inflated valuations of those benefiting from the AI boom.

Amid market fluctuations, OpenAI CEO Sam Altman stated that the race for artificial intelligence has crossed the point of technological singularity, making further advancements in neural networks irreversible. He dismissed skeptics’ concerns about potential dystopian scenarios reminiscent of the movie “Terminator,” assuring that progress will yield only positive outcomes.