Apple’s market value climbs to $4.94 trillion as investors favour the company’s cautious approach to artificial intelligence spending.
Dubai: Technology giant Apple reclaimed its position as the world’s most valuable company on Monday, moving ahead of leading chipmaker Nvidia.
Apple’s market capitalisation rose to around $4.94 trillion, surpassing Nvidia’s valuation of approximately $4.83 trillion.
Investors have increasingly seen Apple’s cautious approach to capital spending as an advantage, particularly when compared with competitors investing tens of billions of dollars in building new artificial intelligence infrastructure.
While companies such as Alphabet and Tesla have increased investment in AI data centres, autonomous vehicles and robotics, Apple has reduced its capital spending over the past three quarters while continuing to develop and expand its Apple Intelligence platform.
