Apple is the latest in a growing list of challengers to Nvidia, the world’s leading designer of artificial intelligence (AI) processors but China is the only nation that competes with the US in the technology. With market forces short-circuited by US-led technology bans and sanctions, China does so by necessity.
Apple’s share price jumped more than 7% to a new all-time high on June 11, following CEO Tim Cook’s presentation of the company’s AI strategy at its Worldwide Developers Conference the day before.
Nvidia’s share price was down 0.7% on June 11, reminding investors and others that while the company’s sales and profits will probably continue to grow, its extraordinarily high market share and stock market valuation are both likely to slip in the future.
