Nvidia Regains Top Spot as Largest Company in World by Market Cap

Nvidia is once again the largest company in the world by market capitalization, surpassing Apple's valuation. With a market cap of over $5 trillion, Nvidia has had a rocky year, barely keeping pace with the S&P 500 in terms of growth.

The company's revenue and net income have grown faster than its share price, making its valuation superior to companies with slower growth. Its current trailing P/E ratio is at a five-year low of 26.7, lower than Apple's 38.2.

Nvidia's top-of-the-line GPUs are likely to find a market powering the next big technological advance, even if the current AI spending boom were to fizzle out. The company still looks like a good investment for the long term.