According to a worldwide ranking released on Wednesday by Kantar’s BrandZ, chipmaker Nvidia’s worth has almost tripled, while Apple has become the first brand to surpass $1 trillion in brand value, a 15% increase from the previous year.

For the third consecutive year, the iPhone manufacturer was the most valuable brand in the world in 2024, according to Kantar. Google, owned by Alphabet, came in second place with $753 billion, while Microsoft came in third place with $713 billion.

Apple debuted new AI capabilities earlier this week, which are anticipated to boost demand for iPhones and stop the device’s sales slide caused by erratic consumer spending and resurgent tech rivals. The iPhone is Apple’s best-selling product.

“Apple has been consistently able to deliver products, services and messaging, which has closely resonated with the consumers, creating a strong fan-following for the brand,” Counterpoint analyst Varun Mishra said.

Apple has a higher market capitalization than Nvidia, the leader in AI chips, at $3.18 trillion compared to $2.97 trillion.

Nvidia has made its debut in Kantar’s ranking of the top 10 most valuable brands in the world, riding a wave of enthusiasm surrounding artificial intelligence and a surge in chip demand.

According to Wedbush Securities analyst Dan Ives, “Nvidia, led by the Godfather of AI Jensen (Huang) and the creator of this AI Revolution, is now a household brand as its GPU chips are the new gold and oil in the tech world.”

Its brand worth increased to over $200 billion from a year earlier, making Nvidia the sixth most valuable brand, according to Kantar, as watchdogs prepared to bite in the U.S.

“What really sets Nvidia apart is the faith that retail and institutional investors alike have in the firm’s centrality to the biggest disruptive narratives in tech,” the consulting company said.

Oracle, a provider of cloud services driven by AI, debuted at number nine on Kantar’s list of the top 10. The brand’s worth increased by 58% to $145 billion.

Kantar said that more than 4.3 million customer interviews over 532 categories and 21,000 distinct products across 54 markets were included in its study.

(Adapted from TBSNews.net)