Nvidia becomes the world's first $4 trillion public company, surpassing Apple's record

[Skye Jacobs]

Update (July 9): Nvidia has become the first publicly traded company to reach a $4 trillion market valuation, underscoring its position at the center of the generative AI market. Its chips are used in the data centers that support AI models and cloud services from major firms like Microsoft, Amazon, and Google. The company's stock has risen about 20% this year, driven by sustained demand for AI infrastructure.

This development also marks a shift in market leadership. Nvidia surpassed both Apple and Microsoft, which had previously alternated as the most valuable companies. Apple, which started the year near a $3.9 trillion valuation, has declined amid broader market and policy concerns. Meanwhile, Nvidia reported $44.1 billion in revenue for the quarter ending in April, a 69% increase from the prior year, reflecting continued growth in AI-related demand.

The original story from July 4th follows below:

Nvidia came within striking distance of setting a new record for the most valuable company in history on Thursday, as its market capitalization soared to $3.92 trillion during intraday trading, just shy of the $4 trillion mark. The chipmaker's rapid ascent, fueled by relentless demand for its advanced AI chips, briefly pushed it past Apple's previous record closing value of $3.915 trillion set in late 2024. By the end of the trading session, Nvidia's value settled at $3.89 trillion, slightly below the all-time high but still underscoring its extraordinary run.

"When the first company crossed a trillion dollars, it was amazing. And now you're talking four trillion, which is just incredible. It tells you that there's this huge rush with AI spending and everybody's chasing it right now," Joe Saluzzi, co-manager of trading at Themis Trading, told Reuters.

The surge in Nvidia's stock reflects a broader wave of optimism on Wall Street about the future of AI. The company's latest chips have become essential for training and running the largest and most sophisticated AI models, fueling a race among technology giants to build powerful data centers and dominate the next era of computing. Microsoft, Amazon, Meta, Alphabet, and Tesla are all competing to expand their AI infrastructure, and Nvidia's specialized hardware sits at the heart of this transformation.

According to LSEG data, Nvidia's current valuation now exceeds the combined market capitalization of all publicly listed companies in Canada and Mexico, and even surpasses the total value of all publicly traded firms in the United Kingdom.

Four years ago, the company was valued at $500 billion and was largely known for its graphics technology used in video games. Since then, its market capitalization has grown nearly eightfold, propelled by the explosive growth in AI applications and the company's ability to deliver the high-performance chips that power them.

Credit: Companies by Marketcap

The company's financial performance has been equally impressive. In the most recent quarter, Nvidia reported $44.1 billion in revenue, a 69 percent increase from the previous year, with data center sales alone contributing $39.1 billion. This puts Nvidia on track to approach $170 billion in annual revenue for fiscal 2026, up from $130.5 billion in 2025.

Analysts expect the company's next-gen Blackwell Ultra GPUs to further accelerate growth, with Wall Street anticipating that Nvidia could soon reach, and potentially surpass, the $4 trillion market cap milestone.

Nvidia's rise has also reshaped the broader stock market. The company now represents a significant portion of the S&P 500 index, and its performance has left many investors, including those saving for retirement through index funds, increasingly exposed to the fortunes of the AI sector.

Microsoft, currently valued at $3.7 trillion, and Apple, at $3.19 trillion, round out the top three most valuable companies. But Nvidia's momentum has set a new benchmark for what is possible in the technology industry.

Despite its dominance, Nvidia faces challenges, including ongoing trade restrictions that limit the sale of its most advanced chips to China, as well as rising competition from rivals developing custom AI hardware. However, the company's innovation pipeline remains robust, with expansion into new markets such as autonomous vehicles and physical AI systems, signaling that its influence in the tech world is likely to persist.

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Nvidia becomes the world's first $4 trillion public company, surpassing Apple's record

 

[Megalomaniac]

Just looked at my portfolios. I'm way, way up on my personal index: MANGOAT (Microsoft, Apple, Nvidia, Google, Oil/gas, Amazon, Tesla) Nvidia on its own has eclipsed the down items in my portfolio. I'm gonna keep holding.

Nvidia is unchallenged and will continue to dominate. I don't think Apple can even challenge them.

 

[p51d007]

And, if Nvidia does like a lot of companies have done, such as Xerox, IBM, "the big three" etc, and just push out minor updated hardware, instead of constantly "creating", they will be passed
just like Xerox, IBM, "the big three" have been.

 

[Megalomaniac]

And, if Nvidia does like a lot of companies have done, such as Xerox, IBM, "the big three" etc, and just push out minor updated hardware, instead of constantly "creating", they will be passed
just like Xerox, IBM, "the big three" have been.

By who?

Certainly not by AMD.

It's definitely likely that China's Hua Wei will blow past them. The racist policies designed to keep China from access to Nvidia's GPU are only going to blow up in Trump's face. Even Jensen Huang has said it.

According to Jensen Huang, CEO of Nvidia, China is not significantly behind the U.S. in AI. While Chinese companies have made progress in AI services and software, Huang mainly referred to Chinese AI hardware. He emphasized that China is a narrow gap behind the U.S. and that it is a long-term race.

 

[Theinsanegamer]

By who?

Certainly not by AMD.

Why not? A couple more Blackwell tier generations and AMD will take the performance crown. rDNA4 significantly closed the gap and that only took 1 generation.

We've seen with intel how hard it can be to get the progress train rolling again once it has stalled out.

It's definitely likely that China's Hua Wei will blow past them. The racist policies designed to keep China from access to Nvidia's GPU are only going to blow up in Trump's face. Even Jensen Huang has said it.

Once China lifts its racist policies on US products and services, we can talk.

Or we can acknowledge that feeding advanced tech to your biggest geopolitical rival is a bad idea.

According to Jensen Huang, CEO of Nvidia, China is not significantly behind the U.S. in AI. While Chinese companies have made progress in AI services and software, Huang mainly referred to Chinese AI hardware. He emphasized that China is a narrow gap behind the U.S. and that it is a long-term race.

I'm sure that Jensen, who stands to print out billions if the Chinese market opens back up, has absolutely no conflicted reasoning to claim that it is urgent the US lifts its bans on Chinese purchases of his technology.

 

[Megalomaniac]

Why not? A couple more Blackwell tier generations and AMD will take the performance crown. rDNA4 significantly closed the gap and that only took 1 generation.

We've seen with intel how hard it can be to get the progress train rolling again once it has stalled out.

Once China lifts its racist policies on US products and services, we can talk.

Or we can acknowledge that feeding advanced tech to your biggest geopolitical rival is a bad idea.

I'm sure that Jensen, who stands to print out billions if the Chinese market opens back up, has absolutely no conflicted reasoning to claim that it is urgent the US lifts its bans on Chinese purchases of his technology.

Huang will make his money one way or another. If he charged $4000 for an RTX card, these lonely, credit-card abusing incels would still buy them all on launch day to get 2% more FPS.

 

[human7]

The valuation is pushed up by all the executives drooling at the prospect of replacing salaries with cheap AI. If that actually happens, businesses will find out the harsh reality known as the tragedy of the commons: if nobody can afford to buy your products and services, it doesn't matter so much if you can make or provide them for nearly free.

Not to mention that AI isn't general intelligence yet, just generative, and not much more than good pattern matching at that - so not as creative as people would like. Many companies have walked back their plans to replace employees with AI after their clueless CEOs found out the hard way that AI wasn't up to the task (they didn't think to run the pilot programs and they didn't question their over-promising-to-save-their-jobs middle management? why are these CEOs paid so much anyways?).

In Nvidia's case, a bit of antitrust investigation and the success of CUDA alternatives would bring their valuation back to Earth. I hope their engineers are at least able to cash some of that stock before it happens, because one can't deny, their engineers make decent products (nobody's perfect, and their greed and near monopoly has led to inflated prices, but I hold no ill will towards the rank and file, or even to their CEO, but some competition is sorely needed, one way or the other - why not both).

 

[Theinsanegamer]

Huang will make his money one way or another. If he charged $4000 for an RTX card, these lonely, credit-card abusing incels would still buy them all on launch day to get 2% more FPS.

Throwing ad hominids at consumers isnt going to earn you any good boi points. It just makes you look mad.

The majority of RTX 5090s are being bought by those wanting to tinker with AI but cant afford the pro H series cards. The majority pf PC games still buy mid range or high end hardware, not the halos. 5060/5070 tier cards dominate the market.

If nVidia pulls another blackwell with the RTX 6000s, just no progress on performance per core, there is a very real change of AMD passing them. If uDNA is as big of a jump as rDNA4 was, it would put AMD ahead of nvidia.

 

[AnilD]

Nvidia went from powering Fortnite to powering the rise of sentient machines in less than five years. Somewhere a gamer is wondering why their GPU still costs two months of rent.

 

[alexnode]

Just looked at my portfolios. I'm way, way up on my personal index: MANGOAT (Microsoft, Apple, Nvidia, Google, Oil/gas, Amazon, Tesla) Nvidia on its own has eclipsed the down items in my portfolio. I'm gonna keep holding.

Nvidia is unchallenged and will continue to dominate. I don't think Apple can even challenge them.

Sell Nvidia.... the bubble will burst in the next year...company after company will realise they couldn't do much with their rtx cards ...they might need some years of data collecting , some data acquisition etc ....and models that are not yet written...

 

[alexnode]

By who?

Certainly not by AMD.

It's definitely likely that China's Hua Wei will blow past them. The racist policies designed to keep China from access to Nvidia's GPU are only going to blow up in Trump's face. Even Jensen Huang has said it.

According to Jensen Huang, CEO of Nvidia, China is not significantly behind the U.S. in AI. While Chinese companies have made progress in AI services and software, Huang mainly referred to Chinese AI hardware. He emphasized that China is a narrow gap behind the U.S. and that it is a long-term race.

China has GPUs from the back door, they customise the ones sold too with larger memory etc...

 

[Megalomaniac]

Throwing ad hominids at consumers isnt going to earn you any good boi points. It just makes you look mad.

The majority of RTX 5090s are being bought by those wanting to tinker with AI but cant afford the pro H series cards. The majority pf PC games still buy mid range or high end hardware, not the halos. 5060/5070 tier cards dominate the market.

If nVidia pulls another blackwell with the RTX 6000s, just no progress on performance per core, there is a very real change of AMD passing them. If uDNA is as big of a jump as rDNA4 was, it would put AMD ahead of nvidia.

On your second statement: you have absolutely no proof of that. The Majority of 5090 cards are being bought by FOMO and hyper-buyers who want to get 5 more FPS in old games they've already been playing for years.

RTX 6000 will sell just fine. The Hype alone will take care of that.

AMD will NEVER surpass Nvidia.

 

[Purplehazeffc]

On your second statement: you have absolutely no proof of that. The Majority of 5090 cards are being bought by FOMO and hyper-buyers who want to get 5 more FPS in old games they've already been playing for years.

RTX 6000 will sell just fine. The Hype alone will take care of that.

AMD will NEVER surpass Nvidia.

I remember when everyone was saying that AMD after Bulldozer won't get anywhere near INTEL again in the CPU market. But here we are. If Nvidia forgets about developing GPU's like it has from the 4000 series to the 5000 series. It's going to happen.
https://www.techspot.com/news/107417-amd-captured-80-amazon-processor-sales-march-dominating.html

 

[Q Wales]

Gives a clue to how much they are fleecing their customers