Apple has surpassed Nvidia to regain the title of the world's most valuable company, now valued at $4.88 trillion.

      Apple ($4.88T) surpassed Nvidia ($4.86T) to become the world's most valuable company for the first time since April 2025, following a 3.5% drop in Nvidia's stock. The expansion of AI investment is becoming more diverse.

      On Friday, Apple closed at approximately $4.88 trillion as its shares remained stable, while Nvidia's value decreased to around $4.86 trillion. Nvidia had dominated as the leading company for nearly a year after being the first to exceed $5 trillion in market capitalization last October.

      This shift indicates that investors are extending their AI interests beyond just the most apparent beneficiaries. "Apple was perceived as lagging in the AI competition due to its lack of investment in model development, but the sentiment has shifted," noted Toni Meadows from BRI Wealth Management. Recently, Apple launched its long-anticipated Siri update, and CEO Tim Cook is set to pass the torch to hardware expert John Ternus in September. Apple achieved its best quarterly performance without creating its own AI model, demonstrating that utilizing existing models can also yield success commercially.

      The semiconductor index has decreased nearly 19% from its peak as investors reevaluate the long-term potential of the AI market. Memory chip manufacturers have emerged as significant winners this year, with Micron surpassing $1 trillion in May and SK Hynix listing on Nasdaq earlier this month. "New market entrants could broaden the focus beyond just the well-known Magnificent Seven companies to include a wider array of names," stated Benjamin Hall from Segal Marco Advisors.

      However, this change may not indicate a permanent shift. Nvidia's GPUs continue to drive the majority of AI infrastructure, and the company could regain its leading position if market sentiment changes. Companies like Micron are establishing multi-year AI supply agreements that position them as long-term players alongside Nvidia rather than as competitors. Additionally, Apple’s situation is precarious; the company has increased prices to counteract costs stemming from memory shortages and tariffs, a move that could dampen demand if consumers cut back.