Nvidia surpasses Apple to become the second-largest public company in the US

Nvidia, Wall Street’s favorite artificial intelligence darling, is continuing to swell to staggering heights.

The AI chipmaker’s market capitalization rose to $3.019 trillion on Wednesday, nudging slightly past Apple’s also $2.99 trillion market cap and making it the second-largest publicly traded company in the US by that measure, just behind Microsoft’s market cap of $3.15 trillion.

Nvidia is now the third company in the US, behind Apple and Microsoft, to cross that $3 trillion mark.

Shares of the Santa Clara-based chipmaker rose 5.2% to about $1,224.4 a share, while Apple shares ended the session up 0.8% at $196.

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