Shares of Nvidia surged to a record high on Thursday, marking a historic milestone as the chipmaker became the first company to surpass a $3.6 trillion market capitalization. This achievement follows a Wall Street rally ignited by Donald Trump’s return to the White House, spurring investor optimism around potential tax cuts and regulatory reductions. Nvidia’s shares climbed by 2.2% on Thursday, reflecting growing enthusiasm for the company’s market-leading position in AI chip development.
By the close of trading, Nvidia’s stock market value had reached $3.65 trillion, overtaking Apple’s previous record of $3.57 trillion, set on October 21. Apple’s shares also rose, gaining 2.1% to bring the company’s market capitalization to $3.44 trillion by day’s end. The S&P 500 technology index saw a significant boost as well, climbing over 4% in the two trading sessions since Trump’s victory.
Nvidia’s performance underscores its lead in the competitive AI sector, where major players like Microsoft and Alphabet are intensifying efforts to expand AI computing capacities. The Silicon Valley-based chipmaker’s stock has surged 12% in November alone, with its valuation tripling over the course of 2024. This extraordinary rise now positions Nvidia’s market value above the combined worth of companies such as Eli Lilly, Walmart, JPMorgan, Visa, UnitedHealth Group, and Netflix.
Market analysts anticipate Nvidia’s quarterly revenue to rise by more than 80%, reaching an estimated $32.9 billion in its Nov. 20 earnings report, as per LSEG data. In June, Nvidia briefly held the title of the world’s most valuable company before Microsoft and Apple regained their leading positions. Recently, the three tech giants have remained in close competition, with Microsoft’s market value standing at approximately $3.16 trillion after a 1.25% gain on Thursday.
