Nvidia the world's most valuable company again

Nvidia "dethroned" Apple as the world's most valuable company, reports Reuters. The company's stock price is powered by "insatiable demand" for its A.I. hardware. The world is boiling lakes and Nvidia sells the boilers. Or, more traditionally, shovels.

Nvidia's stock market value briefly touched $3.53 trillion, slightly above Apple's $3.52 trillion, LSEG data showed. Nvidia ended the day up 0.8%, with a market value of $3.47 trillion, while Apple's shares rose 0.4%, valuing the iPhone maker at $3.52 trillion.

The company was there in June, too, but deflated sharply later in the summer only to pick up steam again through October, gaining nearly 20% in the last four weeks. Apple's growth is relatively slow because everyone who wants a nice smartphone already has one.