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Apple is now the first brand to reach $1 trillion in brand value, up 15% from last year. Chipmaker Nvidia's value has nearly tripled, according to Kantar's BrandZ ranking released on Wednesday.
Apple remains the world's most valuable brand for the third year in a row in 2024. Google is second at $753 billion, and Microsoft is third at $713 billion, Kantar said.
Earlier this week, Apple introduced new AI features that are expected to boost iPhone demand and reverse its recent sales slump. This decline was due to uneven consumer spending and rising competition in the tech world.
Apple has consistently delivered products, services, and messages that deeply resonate with consumers, creating a strong fan base for the brand," said Counterpoint analyst Varun Mishra. With a market value of $3.18 trillion, Apple leads ahead of Nvidia, which is valued at $2.97 trillion. Riding the wave of AI excitement and a surge in chip demand, Nvidia has made it into Kantar's top 10 most valuable brands for the first time.
"Nvidia, guided by AI pioneer Jensen Huang, is now a household name. Its GPU chips are the new gold and oil in the tech industry," said Dan Ives, an analyst at Wedbush Securities. Nvidia's brand value soared to over $200 billion, making it the sixth most valuable brand, according to Kantar.
"What really sets Nvidia apart is the confidence both retail and institutional investors have in its central role in the biggest tech disruptions," the consulting company stated.
Oracle, known for its AI-powered cloud services, also entered Kantar's top 10 for the first time, ranking ninth. Its brand value increased by 58% to $145 billion.
Kantar's research included over 4.3 million consumer interviews across 532 categories and 21,000 brands in 54 markets.
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Apple Strikes Zero-Cost Deal with OpenAI to Bring ChatGPT to iPhones: Here's What It Means
Apple has confirmed a deal with OpenAI to bring ChatGPT to all its devices and explore future integrations. While OpenAI and Microsoft have been close since their big investment deal earlier this year, it seems Sam Altman is expanding his partnerships to include more tech giants.
Many expected Apple and OpenAI to have a lucrative deal, but a new report claims Apple is getting ChatGPT for its devices at no cost. That's right, Apple isn't paying OpenAI anything for this deal. Some are calling it the "steal of the year," especially since Apple managed to get Altman to appear at the Apple Park for WWDC 2024 this week.
Betting on the AI Future
So, what's the motive behind this deal, and how do these companies plan to monetize their AI strategies? According to a Bloomberg report, the Apple-OpenAI deal isn't expected to generate significant revenue for either party initially.
However, OpenAI is happy to partner with Apple because it gives them exposure to “hundreds of millions” of Apple users. These users are likely to spend money on upgrading to the latest Apple devices to experience the new AI features.
Apple is bringing ChatGPT to iOS 18, macOS Sequoia, and iPadOS 18 for free. This gives OpenAI a huge platform to showcase its technology and potentially attract future investors, helping to fund the AI servers running behind the scenes.
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