Nvidia dethrones Apple as world's most valuable company in stock market shake-up

Nvidia has surpassed Apple as the world's most valuable company after Apple hinted to investors that it may struggle to replicate the profitability of its flagship iPhone in future products.

Nvidia's market capitalisation reached $3.43 trillion (£2.66 trillion) at the close of trading yesterday, with its stock rising nearly 3% to overtake Apple's $3.38 trillion (£2.62 trillion) valuation. Microsoft ranks third with a market capitalisation of $3.06 trillion (£2.37 trillion), as reported by City AM.

Nvidia's surge this year has been driven by strong demand for its graphics processing units (GPUs), which are essential for powering artificial intelligence (AI) across various sectors, including tech giants and healthcare.

The stock has also risen in pre-market trading following