Apple overtakes NVIDIA again in market cap — $4.88 trillion vs. $4.85 trillion
Arkadiy Andrienko
Apple has once again climbed to the pinnacle of the global public-company rankings: per TradingView data for July 17, its capitalization reached $4.88 trillion, versus NVIDIA’s $4.85 trillion. This happened against a backdrop of falling NVIDIA shares and ongoing disagreements about how much to pour into AI. It’s Apple’s first lead over its rival in a year, and the market was quick to react to yet another change at the top.
Some investors see Apple as a safe harbour in the AI market. The reasoning is straightforward: the company hasn’t pledged to spend hundreds of billions on chips and data centres the way its competitors have.
“Some investors view the iPhone maker as a defensive play in the artificial intelligence space.”
At the same time, analysts tied NVIDIA’s stock decline to the unveiling of a new Chinese model, Kimi K3. The Moonshot AI neural network is now the largest open‑source AI model in the world, and market watchers suggest that this development may have added extra pressure on Jensen Huang’s company.
Apple holds the top spot for now, but the balance of power in AI and big tech remains extremely fluid. One high‑profile announcement or a fresh wave of market expectations could quickly reshuffle the ranking of the world’s most expensive players.
How long can Apple keep the crown if the AI market starts getting choppy again?
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