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 Apple has reclaimed its position as the world's most valuable public company, overtaking Nvidia after a broad sell-off in artificial intelligence-linked semiconductor stocks prompted investors to re-evaluate their bets on the sector amid growing questions surrounding massive AI infrastructure spending and its expected returns.

Apple's stock rose by approximately 1% to close at a new record high, elevating the tech giant's market capitalization to roughly $4.93 trillion. In contrast, Nvidia's market value declined to approximately $4.78 trillion following a 5% drop in its share price, marking the latest shift in the competition among global tech titans for market dominance.

The resurgence of Apple was driven by steady performance in its shares at a time when chipmaker equities faced severe pressure from widespread selling. Investors have turned increasingly cautious regarding the pace of capital expenditure directed toward AI data centers, reflecting concerns that hundreds of billions of dollars in investments may not yield expected returns as quickly as Wall Street previously anticipated.