Apple reclaims world’s most valuable company title as Nvidia slips amid AI investment concerns

Apple has overtaken Nvidia to become the world’s most valuable company, reclaiming the top position as concerns over the rising cost of artificial intelligence (AI) investments weigh on technology stocks.At the close of trading on Friday, Apple’s market capitalisation stood at $5.03 trillion, ahead of Nvidia’s $4.93 trillion. The change came even as both companies’ shares ended lower. Apple declined 1.2 per cent, while Nvidia fell 4.2 per cent.This is the first time Apple has moved ahead of Nvidia since briefly holding the top spot in late July.The shift in rankings comes at a time when investors are reassessing the financial implications of the massive investments being made by technology companies in AI. Several major firms, including Amazon, Intel, Alphabet and Meta Platforms, have faced pressure following their latest financial results, adding to uncertainty over the returns from AI-related expenditure.Apple’s comparatively limited spending on capital-intensive AI infrastructure has helped distinguish it from its rivals. While companies such as Nvidia have benefited from the surge in demand for AI computing, the scale of investment across the sector has raised questions about its long-term financial sustainability.The difference is also reflected in their stock performance. Apple’s shares have risen 27% in 2026, more than twice the gain recorded by Nvidia, making it the strongest performer among the…