Alphabet Overtakes Apple, Becoming Second to Nvidia in Size

Alphabet Inc. has overtaken Apple Inc. to become the second-most valuable company by market capitalization, a reflection of how the Google parent has emerged as one of the most significant winners of artificial intelligence.

Shares of Alphabet rose 2.4% on Wednesday, closing with a valuation of $3.89 trillion. That allowed it to surpass Apple, which closed with a market cap of $3.85 trillion on Wednesday, following a six-day slump that erased nearly 5% — and almost $200 billion — off its value. The divergence widened further Thursday, with Apple opening 1.2% lower and Alphabet gaining 1.1%.