valuable

Published on 17/07/2026 – 21:02 GMT+2•Updated
21:07

Apple reclaimed the title of the world’s most valuable company on Friday, overtaking Nvidia as investors grew more confident in its AI strategy.

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Shares of Nvidia were down as much as four percent as worries about the valuation of artificial intelligence equities dogged the market, giving the company a valuation of about $4.8 trillion (€4.2 trillion), slightly below Apple’s $4.9 trillion (€4.3 trillion).

The company later clawed back the losses, with Apple and Nvidia trading neck and neck for the top spot.

Nvidia’s stock has soared more than 1,200% since January 2023, climbing from a split-adjusted $14.86 (€13.00) to about $205 (€179.30) by mid-July 2026. The company carried out a 10-for-1 stock split in June 2024.

Nvidia became the world’s most valuable company in 2025, driven by the AI boom sparked by the launch of ChatGPT in November 2022.

Originally designed for video games, Nvidia’s graphics processing units (GPUs) have become the core hardware used in AI data centres to train large language models developed by companies such as OpenAI, Anthropic and Google.

In recent weeks, however, analysts have begun questioning whether the massive investments in Nvidia’s chips and software will pay off as new AI products reach the market.

Those questions have intensified as ChatGPT-maker OpenAI and rival Anthropic, two of the most valuable private companies in history, having filed to go public.

Meanwhile, investor confidence in Apple confidence in Apple has strengthened in recent weeks, pushing its shares up about 20% since late June. Apple also unveiled a redesigned version of Siri, receiving broadly positive early reviews.

Apple regained world’s top spot with $4.88 trillion valuation, overtaking Nvidia which saw a 3.5 percent market value drop.

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.

Nvidia was previously the world’s most valuable company after surpassing the $5 trillion market valuation mark in October.

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.”

The surge comes in advance of the company’s third-quarter earnings, which are scheduled for release on July 30. Last quarter, Apple executives forecast sales growth of 14 percent to 17 percent.

Apple has long trailed competitors in the AI space and only publicly debuted its enhanced Siri last week. However, analysts believe the trove of personal data stored on the typical iPhone could become a major advantage for the company’s AI ambitions.

“This is a natural extension of Apple Founder Steve Jobs’ thinking of starting with the customer experience and working backwards to the technology needed to deliver the experience,” Monaghan added.

It comes as CEO Tim Cook is set to hand over the reins of the tech giant to John Ternus in September. Ternus has served as Apple’s head of hardware engineering since 2021.

Pressure on Nvidia comes amid increased competition in the semiconductor industry, with competitors such as Micron crossing the $1 trillion market valuation in May and South Korea’s SK Hynix joining the Nasdaq in May.

“The new entrants to the market could spread out the focus away from the pure Magnificent Seven names into a wider number of names,” Benjamin Hall, vice president of alpha research at Segal Marco Advisors, told the Reuters news agency.

Despite Apple’s surge, the broader market trended downward. The tech-heavy Nasdaq was down 1.6 percent in midday trading, while the S&P 500 fell 0.9 percent and the Dow Jones Industrial Average dropped 0.25 percent from Friday’s market open.

Published on
17/06/2026 – 11:13 GMT+2

Elon Musk’s space and AI conglomerate ended its third day of public trading worth roughly $2.65 trillion (€2.28tn), having displaced Amazon in the global market-capitalisation rankings.

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The stock settled at $201.8 per share, in a debut week that has rewritten the upper reaches of the world’s equity leaderboard at remarkable speed.

The milestone caps an already extraordinary stretch for the company, which listed on the Nasdaq under the ticker SPCX only last Friday.

SpaceX priced 555.6 million Class A shares at $135 each, raising around $75 billion (€65bn) in what was the largest initial public offering in history, comfortably eclipsing the $29.4 billion (€25.3bn) that Saudi Aramco raised in 2019.

The company also increased the total capital raised to $85.7 billion (€73.8bn) after underwriters exercised the “greenshoe” option to purchase additional shares on Monday due to exceptional demand.

At Tuesday’s close, the stock was trading more than 50% above its IPO price.

During the trading session, share prices climbed as high as $225.6, briefly pushing SpaceX’s valuation above $3 trillion (€2.58tn) and, for a moment, ahead of Microsoft as the world’s fourth most valuable company.

The stock later pared those gains, closing below that threshold, but the intraday spike underscored the intensity of investor appetite for the listing.

Based on Tuesday’s closing prices, only Nvidia ($5tr), Alphabet ($4.5tr), Apple ($4.4tr) and Microsoft ($2.9tr) had larger market capitalisations than SpaceX. Eight of the world’s ten most valuable listed companies are tied to the technology and AI sector, a concentration that has defined markets throughout 2026.

The Cursor deal fuels the surge

Tuesday’s advance coincided with a significant strategic move.

Before the opening bell, SpaceX announced an all-stock agreement to acquire Anysphere, the developer behind the AI coding assistant Cursor, in a deal valuing the startup at $60 billion (€51.7bn).

According to a regulatory filing, a SpaceX subsidiary will merge into Anysphere, leaving Cursor as a wholly owned arm of the group, with completion expected in the third quarter, subject to regulatory approval.

The purchase deepens SpaceX’s push into enterprise AI, a market where rivals such as OpenAI and Anthropic have gained early commercial traction, and it follows the company’s merger with Musk’s xAI venture in February.

The acquisition stems from an option SpaceX secured in April, under which it agreed either to acquire Cursor for $60 billion (€51.7bn) later this year or pay $10 billion (€8.6bn) for a more limited partnership to access its computing technology.

However, despite all the positive news, the speed of the climb has drawn caution.

Sceptics argue that SpaceX remains overvalued, given that it has yet to turn a profit and only 3% to 4% of its total equity is publicly traded.

A fast-track route into major stock indices, which compels passive funds to buy the shares, is expected to further amplify demand for the limited supply of shares in the opening days of trading.

This article does not constitute financial advice, always do your own research and invest according to your specific circumstances.