Nvidia overtakes Apple as world's most valuable company

FRANKFURT: Nvidia, the artificial intelligence (AI) behemoth, surged past iPhone maker Apple last year to become the world's most valuable listed company, with more than US$4.5 trillion in assets, German Press Agency (dpa) reported, citing a study released on Wednesday.

AI Brief

Apple's valuation reaches US$4 trillion, while Nvidia outpaces Germany's entire DAX index combined.
AI-driven growth dominates global markets, with US tech giants leading top rankings.
Eight of the world's 10 most valuable companies are US-based, highlighting American market dominance.

Apple's valuation stood at around US$4 trillion, according to consulting firm EY in a report made available to dpa.

Nvidia's valuation is nearly twice as much as all 40 companies in Germany's top DAX stock market index combined. They amounted to US$2.5 trillion at the end of last year, the study said.

Nvidia's chip systems have become a key technology for software using AI, and the hyped company is considered a barometer for the industry.

United States (US) tech giants dominated the top rankings, with third place going to Google's parent company Alphabet with a market capitalisation of just under US$3.8 trillion, ahead of Microsoft and Amazon.

"The year 2025 was dominated by artificial intelligence on the world's stock markets," Henrik Ahlers, chairman of EY's management board, said.

"The euphoria surrounding new AI applications and business models has led to strong price gains worldwide. But the beneficiaries are mainly in the US and Asia."

US companies continue to dominate the stock markets, with 60 of the 100 most valuable companies in the world based there. Eight US companies are among the top 10. The two non-US firms are oil company Saudi Aramco in eighth place and Taiwanese chip manufacturer TSMC at 10th.

-- BERNAMA