On Monday, Apple once again climbed to the number one spot in the company valuation race. The firm now has the highest market capitalisation at $4.95 trillion. This means that the combined dollar value of all its shares is greater than any other corporation.
Nvidia is a major American technology company that specialises in Artificial Intelligence hardware, graphics processing units and accelerated computing. The firm held the previous top spot for almost a year. In October 2025, the company was sailing high with a market valuation of $5 trillion and is now valued at $4.77 trillion.
Apple has been competing with Nvidia for the top spot in the recent weeks. With AI infrastructure investments increasing, Nvidia was expected to have a clear upper hand in the race. However, the firm’s shares fell by 5 per cent. Its closing price was $196 on Monday, falling from $206 on Friday.
The stocks came under pressure from reports and general market sentiment predicting that AI infrastructure would become more expensive. Nvidia was in discussions with OpenAI to sign a financial guarantee for a Softbank data centre in Ohio. The guarantee would force Nvidia to pay lenders if OpenAI cannot cover the lease and construction costs for the centre. This increased investor worries, raising concerns about financial commitments associated with AI expansion.
On the other hand, Apple followed a different strategy. The firm reduced its capital expenditure on AI infrastructure for the past three quarters, while still expanding its AI offerings. While it initially drew criticism that the company would fall behind in the AI race, the rise in market valuation has led investors to appreciate the benefits of keeping spending under control.
Strong iPhone sales and cash flow were also contributing factors to the firm’s rise to the top. Apple’s closing share price on Monday was around $336.
