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Nvidia passes Apple in market cap, becoming the second-most valuable company
Investors are becoming more comfortable that Nvidia's huge growth in sales to a handful of cloud companies can persist.
Nvidia passed Apple in market cap on Wednesdayas investors continue betting on the chipmaker behind the artificial intelligence boom. The company has an estimated 80% market share in AI chips for data centers, which are attracting billions of dollars in spending from big cloud vendors. Apple faces strategic questions and issues about demand in China, manufacturing and mixed reactions to its new virtual reality headset, Vision Pro.
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