Nvidia reaches record high as it closes in on Apple for top market value

Nvidia's shares closed at a record high of $138.07, bringing its market value to $3.39 trillion. This positions Nvidia close to surpassing Apple, which is valued at $3.52 trillion. Microsoft follows with a market cap of $3.12 trillion. Nvidia's stock increase reflects strong investor confidence in demand for its AI processors. The company briefly held the title of the world's most valuable company in June before being overtaken by Microsoft. As Nvidia prepares for quarterly reports, analysts expect its revenue to more than double to nearly $126 billion, driven by AI data center spending. Meanwhile, Apple and Microsoft also saw stock gains, contributing to a record high for the S&P 500.