Nvidia is on the verge of becoming the most valuable company in history, with its market capitalization soaring to $3.92 trillion on Thursday as investors doubled down on the AI boom.
Shares of the AI chip giant rose 2.2% to $160.6, pushing its valuation beyond Apple’s previous record of $3.915 trillion set in December 2024. Nvidia’s cutting-edge chips, key to training massive AI models, have fueled surging demand from major tech firms building AI data centers.
Microsoft currently holds second place on Wall Street with a market cap of $3.7 trillion as its shares climbed 1.5%. Apple, now third, saw its stock rise 0.8%, giving it a market value of $3.19 trillion.
Joe Saluzzi of Themis Trading described the rush as “incredible,” highlighting the scale of AI-driven spending. Nvidia’s valuation has ballooned almost eightfold since 2021, when it was worth around $500 billion, now surpassing the entire Canadian and Mexican stock markets combined.
Despite its meteoric rise, Nvidia trades at about 32 times its projected earnings for the next year, which analysts say remains modest given skyrocketing profits. Its stock has rebounded more than 68% from April lows triggered by trade worries under President Trump, as markets bet on softer tariffs.
Co-founded in 1993 by Jensen Huang, Nvidia has transformed from a gaming chip designer into a global AI bellwether. Even after a shaky start to the year, its stock has surged on renewed AI optimism, cementing Nvidia’s status as the sector’s defining player.
