Apple becomes World's second company to hit $5 trillion market value

Apple briefly became the world's second company ever to reach a $5 trillion market value, marking a historic milestone in corporate history.

It comes as Apple shares climbed as much as 1.8% to an intraday record of $342.89, pushing the company's market capitalization above the landmark threshold before the stock pared some gains.

The market rally pushed back the iPhone maker ahead of Nvidia to recapture its position as the world's most valuable publicly traded corporation.

Wall Street has rewarded Apple's capital-efficient approach to artificial intelligence, with the company relying on partnerships and external infrastructure rather than massive in-house data-center investments that have pressured some of its rivals.

Unlike several Big Tech competitors facing enormous AI infrastructure costs, Apple has sought to limit capital spending by working with partners such as Google to support features including its revamped Siri. The strategy has helped ease cash-flow pressures while maintaining investor confidence.

Coinciding with the milestone, Apple also launched a new U.S. device-leasing program in partnership with Klarna, offering iPhones starting at $17.99 per month as part of efforts to encourage hardware upgrades.