Nvidia Relinquishes Largest U.S. Company Title to Apple as AI Chip Stocks Slide 2.2%

NVDA-5.04%
According to the Wall Street Journal, Nvidia relinquished its position as the largest U.S. company by market capitalization to Apple today as its stock price fell sharply amid broad weakness in AI chip stocks. Every stock in the PHLX Semiconductor Index closed below its 50-day moving average for the first time since April 2025, with the index declining 2.2 percent. The selloff was triggered partly by investor concerns following a WSJ report that Nvidia may offer approximately $250 billion in guarantees for a large OpenAI data center project, fueling worries about the company's heavy capital commitments.
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