Apple has regained its position as the world’s most valuable publicly traded company after a sharp decline in Nvidia shares. The Nvidia stock selloff followed growing concerns about artificial intelligence valuations. As a result, Apple briefly moved ahead in global market rankings.
Nvidia shares fell by as much as 4% during Friday’s trading session. The decline reduced the company’s market value to about $4.8 trillion. Meanwhile, Apple’s valuation stood at roughly $4.9 trillion, placing it at the top of the market.
Later in the day, Nvidia recovered part of its losses. Consequently, both companies traded close to each other in market value. Investors continued to watch their performance as the competition for the top position remained intense.
Nvidia has played a leading role in the AI industry since the launch of ChatGPT in 2022. Its graphics processing units power many artificial intelligence systems. In addition, companies such as OpenAI, Anthropic, and Google rely on Nvidia chips to train large language models.
The company’s stock has delivered remarkable gains over the past few years. Following its 10-for-1 stock split in June 2024, Nvidia shares climbed from a split-adjusted $14.86 in January 2023 to around $205 by mid-July 2026. Therefore, the stock gained more than 1,200% during that period and became the world’s most valuable company in 2025.
However, investors have recently started questioning whether heavy spending on AI technology will generate strong long-term returns. Furthermore, the upcoming public offerings of OpenAI and Anthropic have increased discussions about the future of AI investments. Some analysts now warn that the sector could face a valuation correction.
SpaceX’s recent stock performance has also added to investor concerns. After a strong debut, the company’s shares gave back most of their early gains. At the same time, several major technology companies investing heavily in AI infrastructure have also seen pressure on their share prices.
The latest Nvidia stock decline highlights changing investor sentiment toward artificial intelligence companies. Finally, Apple’s steady iPhone sales and cautious AI strategy have strengthened investor confidence, allowing the company to reclaim the top spot in global market value.
