Nvidia Becomes First Company to Surpass $4 Trillion Market Cap on Wall Street
Nvidia and other companies riding the AI wave have been a major force behind the S&P 500’s record-setting streak.
Quick overview
- Nvidia became the first publicly traded company to surpass a $4 trillion market capitalization on Wednesday.
- The company's stock rose 2.5%, reaching over $164 per share, a significant increase from around $14 at the beginning of 2023.
- Nvidia has surpassed major tech giants like Microsoft, Apple, Amazon, and Google to become the largest company on Wall Street.
- The surge in Nvidia's stock is driven by advancements in AI technology and increased demand for its high-end processors.
The chipmaker leads AI-driven gains as its stock jumps 2.5% on Wednesday.
Nvidia made history on Wednesday by becoming the first publicly traded company to surpass a $4 trillion market capitalization on Wall Street, following a two-year investor frenzy fueled by breakthroughs in artificial intelligence (AI).
Shares of the chipmaker rose 2.5% in early trading, exceeding $164 per share. At the beginning of 2023, Nvidia stock was trading around $14, and its market value was under $600 billion—a staggering transformation in just 18 months.
With this surge, Nvidia has overtaken Microsoft, Apple, Amazon, and Google, becoming the largest company on Wall Street. Its movements now exert more influence on the S&P 500 and other major indices than any company except Apple.
AI Gains Propel Nvidia to the Top
Nvidia and other companies riding the AI wave have been a major force behind the S&P 500’s record-setting streak, including its latest all-time high last week. These gains have continued to boost equity markets despite persistent concerns about inflation and the potential economic fallout from U.S. President Donald Trump’s aggressive trade policies.
The company’s latest chips have achieved significant advancements in training large AI models, driving soaring demand for Nvidia’s products, headquartered in Santa Clara, California.
A fierce race between Microsoft, Amazon, Meta Platforms, Alphabet, and Tesla to build next-generation AI data centers and stake a claim in the emerging tech frontier has created unprecedented demand for Nvidia’s high-end processors.
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