Nvidia value surges past $3tn and overtakes Apple

Nvidia's market value has surged past $3tn, lifting the chipmaker ahead of Apple to become the second most valuable publicly listed company in the world. The firm's share price rose more than 5% on Wednesday, to more than $1,224. Its market value now sits just behind Microsoft, another key player in the industry thanks to its investments in Chat GPT-maker OpenAI. Valued at "Just" $2tn as recently as February, Nvidia sparked a new wave of share purchases after it announced plans last month for a so-called stock split. The move will increase the number of shares by a factor of 10 and reduce their value accordingly, a change aimed at making shares more affordable to small-time investors. Shares in the firm rose 0.7%, giving it a market capitalisation of roughly $3tn, which is generally calculated by multiplying the number of shares in a company by its current share price.

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