Matteo Allievi
(Reuters) – Apple became the first brand to be valued at more than $1 trillion, up 15% from last year, while chip maker Nvidia’s (NASDAQ:) nearly tripled in value, Kantar’s global BrandZ ranking showed. on Wednesday.
The iPhone maker retains the title of the world’s most valuable brand for the third year in a row in 2024, Kantar said, followed by Alphabet’s Google (NASDAQ:) with $753 billion and Microsoft (NASDAQ:) with $713 billion.
Earlier this week, Apple (NASDAQ:) unveiled new artificial intelligence features that are expected to revive demand for the iPhone and reverse declining sales of its best-selling product due to faltering consumer spending and a resurgence of tech rivals.
“Apple has consistently delivered products, services and messages that resonate strongly with consumers, building a strong brand fan base,” said Counterpoint analyst Varun Mishra.
With a market capitalization of $3.18 trillion, Apple is ahead of artificial intelligence chip company Nvidia, which has a market capitalization of $2.97 trillion.
Thanks to a wave of enthusiasm for artificial intelligence and a boom in demand for chips, Nvidia made Kantar’s list of the world’s 10 most valuable brands for the first time.
“Nvidia, led by the godfather of AI Jensen (Huang) and the architect of this AI revolution, is now a household brand as its GPU chips are the new gold and oil of the tech world,” said Dan Ives, an analyst at Wedbush Securities. .
Nvidia’s brand value jumped to more than $200 billion from a year earlier, making Nvidia the sixth most valuable brand, Kantar said.
“What truly sets Nvidia apart is the belief that retail and institutional investors have in the company’s central role in the biggest disruptive events in technology,” the consulting firm said.
Oracle (NYSE:), which offers artificial intelligence-powered cloud services, also debuted in Kantar’s top 10, ranking ninth. Brand value jumped 58% to $145 billion.
Kantar said its research covered more than 4.3 million consumer interviews across 532 categories and 21,000 different brands in 54 markets.