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Nvidia’s stock soared to a staggering $3.65 trillion valuation, surpassing Apple as the world’s most valuable company, driven by Wall Street’s enthusiasm after Trump’s election win. The chipmaker’s latest milestone underscores its AI dominance amid renewed investor confidence in tech-friendly policies.
Nvidia Reaches Unprecedented Market High as Wall Street Rallies
On Thursday, as Wall Street continued a rally started by Donald Trump's return to the White House, Nvidia shares reached a record high, making the chipmaker the first business in history to surpass a stock market value of $3.6 trillion, Reuters reports.
Broad investor confidence about tax savings and lesser restrictions buoyed the shares of the major AI chipmaker, which surged 2.2% after the Republican candidate's election triumph on Tuesday.
Nvidia Surpasses Apple as World's Most Valuable Company
According to LSEG statistics, Nvidia surpassed Apple as the most valuable corporation in the world on Tuesday, surpassing the record-setting closing market capitalization of $3.57 trillion established on Oct. 21. The chipmaker's stock market value concluded the day at $3.65 trillion, surpassing Apple's record.
On Thursday, Apple's stock price increased by 2.1%, resulting in a market valuation of $3.44 trillion.
S&P 500 Technology Index Surges After Election Win
In the two trading sessions following Trump's election victory on Tuesday, the technology index of the S&P 500 rose more than 4%.
Amidst intense competition among industry giants like Microsoft, Alphabet, and others to expand their artificial intelligence computer capability and establish dominance in this new field, Nvidia emerged as the clear victor for the US stock market.
Nvidia's Unmatched Growth in 2024 Positions It Above Industry Titans
The value of the shares in the Silicon Valley chip designer has tripled so far in 2024, and it has increased 12% in November alone.
The value of Nvidia has surpassed that of Walmart, JPMorgan, UnitedHealth Group, Eli Lilly, and Netflix as a result of this year's increase.
Record Revenue Expected as Nvidia Prepares Quarterly Report
Per US News, when Nvidia announces its quarterly results on November 20, LSEG says that analysts expect the company's revenue to increase by more than 80%, reaching $32.9 billion.
Before Apple and Microsoft surpassed Nvidia as the most valuable corporation in the world in June, Nvidia had a brief reign. For months, the market caps of the three tech companies were virtually identical.
With a 1.25 percent increase in stock price on Thursday, Microsoft's market valuation reached approximately $3.16 trillion.
