On Wednesday, chipmaker Nvidia became the first publicly traded company to reach a $4 trillion market capitalisation, as its stock price continued to climb steadily. The company’s shares increased by approximately 2.4%, reaching $164. Nvidia has benefited from the booming demand for artificial intelligence technologies, securing its position as one of the most profitable firms worldwide.
It’s essential to note that Nvidia’s chips and software are recognised as industry leaders in developing artificial intelligence products. The company first surpassed a $1 trillion market valuation in June 2023. Since then, its market value has continued to grow unabated, more than tripling in about a year, surpassing Apple and Microsoft, the only two U.S. companies valued at over $3 trillion.
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Apple was the first to reach a $3 trillion market capitalisation, and Microsoft now holds the position as the second-largest U.S. company, with a valuation of approximately $3.75 trillion. Nvidia’s rapid growth has been remarkable, with its valuation now equivalent to 7.3% of the entire S&P 500 index. In comparison, Apple and Microsoft account for about 7% and 6%, respectively.
