Nvidia's stock surge brings it closer to surpassing Apple as most valuable company

Nvidia's stock reached a record high on Monday, closing at $138.07, bringing its market value to $3.39 trillion. This positions Nvidia close to surpassing Apple, which is valued at $3.52 trillion. Nvidia's rise is fueled by strong demand for its AI processors, despite a delay in the production of its new Blackwell chips. The company remains a key player in the competitive AI technology market alongside Alphabet, Microsoft, and Amazon. As Nvidia's stock climbs, it significantly influences the S&P 500, which also hit a record high. Analysts predict Nvidia's revenue could more than double to nearly $126 billion, driven by increased spending on AI data centers.