ISTANBUL

US-based chip maker Nvidia's market cap surpassed Apple's on Tuesday to become the world's most valuable company.

The stock price of Nvidia rose 2.84% to $139.91 at the closing bell, and its market cap reached $3.43 trillion.

Apple's market cap was at $3.38 trillion as of the close.

Nvidia's market cap passed the $3 trillion mark in June for the first time.

With increasing demand for AI chips, Nvidia's shares have gained 182.5% since the beginning of 2024.