Blitz Bureau
NEW DELHI: Nvidia has touched a staggering market value of $3.92 trillion on July 3, positioning itself to become the most valuable company in history. This surge is fueled by Wall Street’s optimism surrounding artificial intelligence (AI). The high-end AI chipmaker pushed its market capitalisation beyond Apple’s previous record closing value of $3.915 trillion, set on December 26, 2024.According to Reuters, the company’s newest chips have been instrumental in training the largest AI models, driving an insatiable demand for its products. Currently, Microsoft holds the second spot with a market capitalization of $3.7 trillion, and Apple now sits in third place, with a market value of $3.19 trillion.
The competition among tech giants like Microsoft, Amazon, Meta Platforms, Alphabet (Google) and Tesla to build advanced AI data centers and lead in emerging AI technology has directly translated into an increased demand for Nvidia’s specialised chips.Nvidia, whose core technology was initially developed for video games, has seen its stock market value skyrocket nearly eight-fold over the past four years, growing from $500 billion in 2021 to nearly $4 trillion. Citing reports, Nvidia’s current valuation surpasses the combined market cap of all publicly listed companies in Canada and Mexico. It even exceeds the total value of all publicly traded companies in the UK.
