Apple regains top spot as world's most valuable company

Apple regains top spot as world's most valuable company Apple has surpassed chipmaker Nvidia as the world's most valuable company as artificial intelligence-driven market pressures weigh on investors. Apple is now worth $4.88 trillion compared with Nvidia's $4.86 trillion, following a 3.5 percent decline in Nvidia's market value. The milestone marks the first time the Cupertino, California-based iPhone maker has held the top spot in more than a year. Last month, Apple unveiled a revamped version of its assistant, Siri AI, which enables the personal assistant to better understand the personal context of users' questions, access real-time information from the Web, and perform more complex tasks on behalf of users. "Market sentiment has shifted from rewarding model makers, then to semis, and now on to those companies that can turn compute into experiences and outcomes the customer will pay for, thus driving corporate earnings," Michael Monaghan, founder of Founder ETFs, told Al Jazeera. "Apple investors first questioned Apple's lower AI spend, but now have treated Apple's lower AI capital expenditure as an advantage, with the bull case being that Apple benefits from consumer AI without spending at cloud-infrastructure scale."