NVIDIA's record valuation confirms AI is in replacing Apple and wireless
NVIDIA is the first U.S. publicly traded company to be valued at $4 trillion.

When wireless technology was the biggest thing on this planet, Apple, with a wireless ecosystem second to none, was setting stock market records as the most valuable publicly traded U.S. company. In 2018 It became the first such company to have a $1 trillion valuation, beating out Amazon in a competitive battle. Two years later, Apple's shares reached the two trillion mark. The three trillion mark was also first hit by Apple, this time in early 2022.
But unless you've been Rip Van Winkling your way through the last few years, you know that mobile/wireless is no longer the hottest thing in the tech universe. That's not to say that wireless isn't still important. But for the last couple of years, the public and tech experts have become infatuated with Artificial Intelligence. And that change in leadership was finally acknowledged by Wall Street today when NVIDIA became the first U.S. publicly traded company to hit the $4 trillion mark in valuation.
Microsoft, which has invested $13 billion into ChatGPT operator OpenAI, is valued at $3.74 billion. Apple is well behind with a valuation of $3.15 billion. NVIDIA hit the $4 trillion mark for a brief time on Wednesday before it pulled back to close at $162.88, giving the company a value of $3.97 trillion. Earlier in the day, the stock made a 52 week high at $164.42.

NVIDIA overtakes Apple to become the most valuable U.S. publicly traded company. | Image credit-Google
NVIDIA is known for designing Graphics Processing Units (GPUs) that quickly process image and video data. Because these chips use parallel processing and work on many computational tasks simultaneously, they are perfect for use as AI accelerators. NVIDIA's share of the AI accelerator market is believed to be in the range of 90%-92%. Supplying such a dominating percentage of an important component used to drive the hottest technology anywhere is a pretty good reason to explain why NVIDIA has replaced Apple as the most valuable U.S. publicly traded company in history.
Of course, NVIDIA won't always stay in its current position. Sometime in the future, AI will be replaced by the next big thing. But for now, these are still the early days of AI, and Apple is no longer the must-own stock that has to be in the portfolio of every hedge fund. What this shows is that the wireless industry has matured and is slowing down. It is now AI's time in the spotlight.
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