<body><p>STORY: Apple overtook Nvidia on Friday to become the world's most valuable company, reshuffling the top ranks of tech giants as investors reassess the outlook for AI.</p><p>The shift in the pecking order illustrates how investors are looking beyond the most obvious beneficiaries of the AI boom, such as Nvidia.</p><p>Apple is reclaiming the top spot for the first time since April of last year.</p><p>:: Nvidia</p><p>:: $4.88 trillion</p><p>::$4.86 trillion.</p><p>The iPhone maker's market cap on Friday hit $4.88 trillion, edging out Nvidia at $4.86 trillion.</p><p>:: Apple</p><p>For Apple, a company often seen trailing in the AI race, the milestone reflects the company's efforts to establish itself more firmly as a leading AI player.</p><p>Apple last month rolled out a long-delayed overhaul of Siri, betting it would help close the gap with Big Tech rivals and newer startups.</p><p>Some analysts say Apple is also sitting on an AI gold mine with the personal data that lives on every iPhone.</p><p>:: Apple</p><p>The challenge is that such data is locked away in operating systems in the name of privacy and the company would have to find a way to unlock its value.</p><p>:: Nvidia</p><p>For Nvidia, being superseded by Apple does not necessarily signal a lasting change in the company's standing.</p><p>The chipmaker remains a major beneficiary of AI-related spending, and its graphics processors are powering much of the generative AI frenzy.</p><p>:: Nvidia</p><p>Last fall, Nvidia became the first company in the world to surpass a $5 trillion market valuation, propelling it into a rarefied territory that was far beyond the reach of its rivals.</p><p>Nvidia could also reclaim the top spot ... amid shifting AI sentiment.</p></body>
