Nvidia achieved an unprecedented market valuation exceeding $3.6 trillion on Thursday, marking it as the first company to reach this milestone. This achievement was fueled by investor enthusiasm around AI advancements and favorable market conditions following recent U.S. election outcomes. Nvidia’s shares climbed 2.2%, surpassing Apple’s previous record market value of $3.57 trillion.
The Silicon Valley chipmaker’s stock has seen significant gains, rising by 12% in November and tripling since the start of 2024. Nvidia’s quarterly revenue is projected to increase by over 80% to $32.9 billion, reflecting its prominent role in the AI race alongside tech giants like Microsoft and Alphabet. Nvidia’s brief stint in June as the world’s most valuable company underscored its rapid growth, as it competes with Microsoft, whose market valuation is now approximately $3.16 trillion, and Apple.
Nvidia’s dominance in the AI sector and its impressive financial performance position it at the forefront of the industry, setting a new benchmark for global technology companies.
