In 2024, Nvidia's stock has soared, outpacing Apple's performance by over 25 times. As Nvidia gears up for its highly anticipated 10-to-1 stock split, its shares have surged by over 150%, while Apple's saw a modest 6% increase year-to-date, as per Nasdaq data.

Nvidia's dominance isn't just a short-term trend; it has also outshined Apple in recent months. On the monthly chart, Nvidia's stock has climbed by an impressive 34%, leaving Apple's with a comparatively modest gain of just over 7%.

The surge in Nvidia's valuation is fueled by its position as the world's leading chip manufacturer. The growing demand for semiconductor chips, especially for artificial intelligence (AI) algorithms, has propelled Nvidia to new heights.

However, ahead of the stock split, Nvidia's shares experienced a slight dip in pre-market trading. Despite this, the stock had seen a remarkable 10% increase over the past five days, according to data from Yahoo Finance.

Nvidia now joins the ranks of the "Magnificent Seven" stocks that have undergone splits since 2022, alongside giants like Apple, Tesla, Amazon, and Alphabet. While the split may attract more retail investors, it could also introduce increased volatility, warns Adam Coons, Winthrop Capital's chief investment officer.

Reaching a market capitalization of $3 trillion last week, Nvidia briefly surpassed Apple as the world's second-most valuable company before settling into third place. This milestone marks a significant moment for Nvidia and the AI industry as a whole, according to Gurps Rai, CEO of droppGroup, who views Nvidia's continued exponential growth as a sign of a new era dominated by AI-centric companies.

Nvidia's GPUs are integral to AI development, with leading firms like OpenAI, Google, and Microsoft relying on them for their AI applications. Ilan Rakhmanov, founder of ChainGPT Foundation, believes Nvidia's stock surge will persist as the demand for AI-driven solutions continues to skyrocket, driven by their GPUs' capability to process vast datasets rapidly.