Jul 3, 2024
How Microsoft and Nvidia bet correctly to leapfrog Apple
Last month, AI chip giant Nvidia briefly became the world's richest company, overtaking Microsoft, which had in turn risen above Apple. Nvidia boss Jensen Huang pushed his company towards AI chip development many years before generative AI exploded onto the scene. Both firms took a long-term bet on the current AI boom - and so far, it's paid off, leaving former top-dog Apple trailing in their wake. "Given how high valuations have leapt for tech companies, missteps ahead could cause big wobbles in share prices," warns Susannah Streeter, head of money and markets at the investment firm Hargreaves Lansdown. Apple has a fight on its hands to catch up with Microsoft and Nvidia in the AI race.
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