Nvidia Surpasses Apple in Market Cap Amid AI Chip Demand, Eyes Key Support Levels

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Nvidia surged past Apple to claim the top spot among the world’s most valuable companies by market cap this week, with shares hitting an all-time high of over $146. The company’s stock has tripled this year due to surging demand for AI chips, including Nvidia’s new Blackwell GPUs. The first lower level to watch sits at $144, an area on the chart just below Wednesday's closing price where the shares may encounter support near a period of consolidation positioned around the prior all-time high.