Chipmaker NVIDIA races past Apple as demand for AI chips continues to soar.
NVIDIA has made history by becoming the first company ever to reach a US$4 trillion (USD) market valuation. According to a report by Reuters, the milestone came after the company’s share price rose by 2.8% on Wednesday (9 July) to US$164.36, pushing its total value past Apple’s previous record of US$3.92 trillion, set in December 2024.
The company first reached a US$1 trillion valuation in June 2023 and tripled it in just over a year, faster than Apple and Microsoft, the only other US firms to cross the US$3 trillion mark.
NVIDIA’s AI chip dominance fuels explosive growth
The Silicon Valley-based firm has seen its value skyrocket over the past year, largely thanks to its central role in the global artificial intelligence (AI) boom.
NVIDIA’s dominance in AI chips has powered major platforms like ChatGPT, Claude, and Gemini. These chips are essential for training and running complex AI models across industries, from healthcare and robotics to finance.
“NVIDIA is basically the backbone of the AI revolution,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in New York. “It shows how companies are shifting their spending towards AI, it’s seen as the future of technology.”
Beyond AI, NVIDIA remains a top name in gaming. Alongside AMD, its GeForce graphics cards continue to drive high-end gaming PCs and laptops. Innovations such as real-time ray tracing and DLSS have kept NVIDIA competitive and relevant in the gaming space.
According to the same Reuters report, NVIDIA’s share price has surged by around 74% since April. This rally came despite early-year market jitters tied to renewed US-China tariff concerns under President Donald Trump. Positive sentiment over trade deals has helped push the S&P 500 to record highs, with NVIDIA now making up 7.3% of the index, surpassing Apple (7%) and Microsoft (6%).
Even with a brief dip in confidence following headlines around Chinese AI model DeepSeek, investor faith in NVIDIA’s long-term value has remained strong.
NVIDIA is now worth more than entire nations’ markets
The scale of NVIDIA’s success is staggering. According to Reuters' LSEG data, the company is now worth more than the entire Canadian and Mexican stock markets combined, and more than all publicly listed companies in the UK.
