Nvidia’s stock gains put it nearly on track to become world’s most valuable company in history
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BING-JHEN HONG
On Thursday, Nvidia (NASDAQ:NVDA) was briefly on track to become the most valuable company in history after its market capitalization hit about $3.92T.
Shares of the AI chipmaker jumped up to 2.4% to $160.98 on Thursday, giving it a higher market value than that of Apple (NASDAQ:AAPL) when the iPhone maker touched a closing value of $3.915T on Dec. 26, 2024.
The shares traded in the range of $157.77 to $160.98 on Thursday. The market cap was $3.84T.
Microsoft (NASDAQ:MSFT) is currently the second-most valuable company on Wall Street, with a market cap of about $3.65T, followed by Apple with a market value of nearly 3.17T.
Nvidia’s chips have been in high demand by companies building AI models as they need faster computing capacity.
Nvidia is now worth more than the combined value of the Canadian and Mexican stock markets, Reuters reported, citing LSEG data. The Santa Clara, Calif.-based company also exceeds the total value of all publicly listed companies in the U.K.