Value of US tech giant surges past 3tn, overtaking Apple

Nvidia's market value has surged past 3tn ( 2.3tn), 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. It extended a breathtakingly rapid climb that started last year, powered by bets that the firm is positioned to be a major winner from a wave of investment in artificial intelligence (AI). 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.