Nvidia set to become the world's most valuable company in history
was on track to become the
most valuable company
in history on Thursday, with the chipmaker's
market capitalization
reaching $3.92 trillion as Wall Street doubled down on optimism about AI.
Shares of the leading designer of high-end
AI chips
were up 2.2% at $160.6 in morning trading, giving the company a higher market capitalization than
Apple
's record closing value of $3.915 trillion on December 26, 2024.
Nvidia's newest chips have made gains in training the largest artificial-intelligence models, fueling demand for products by the Santa Clara, California, tech company.
Microsoft
is currently the second-most valuable company on Wall Street, with a market capitalization of $3.7 trillion as its shares rose 1.4% on $498.
Apple rose 0.5%, giving it a
stock market value
of $3.19 trillion, in third place.
A race among Microsoft, Amazon.com, Meta Platforms , Alphabet and Tesla to build AI data centers and dominate the emerging technology has fueled insatiable demand for Nvidia's high-end processors.
The stock market value of Nvidia, whose core technology was developed to power video games, has nearly octupled over the past four years from $500 billion in 2021.
Nvidia is now worth more than the combined value of the Canadian and Mexican stock markets, according to LSEG data. The tech company also exceeds the total value of all publicly listed companies in the United Kingdom.
Nvidia recently traded at about 32 times analysts' expected earnings for the next 12 months, below its average of about 41 over the past five years, according to LSEG data. That relatively modest price-to-earnings valuation reflects steadily increasing earnings estimates that have outpaced Nvidia's sizable stock gains.
The company's stock has now rebounded more than 68% from its recent closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. U.S. stocks, including Nvidia, have recovered on expectations that the White House will cement trade deals to soften Trump's tariffs.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
NHL trade news: Edmonton Oilers land Andrew Mangiapane despite Maple Leafs push as Chris Johnston reveals surprise twist
On the opening day of NHL free agency, the Edmonton Oilers made a major splash by signing Andrew Mangiapane to a two-year deal worth $3.6 million annually. The forward, one of the top names on the market, was long expected to be heading to the Toronto Maple Leafs, especially following their trade of Mitch Marner to the Vegas Golden Knights. Tired of too many ads? go ad free now Chris Johnston reveals Maple Leafs' strong pursuit of Mangiapane According to NHL insider Chris Johnston on TSN's OverDrive, the Maple Leafs were genuinely in contention to sign Mangiapane. Several teams around the league reportedly believed Toronto was going to land the forward. It was not a case of indifference or a lack of effort on the part of general manager Brad Treliving. This wasn't just a routine free-agent miss for Toronto. Given the situation, losing out on Mangiapane to a fellow Canadian team adds a level of frustration. It emphasizes how competitive the free-agent market can be, especially when multiple teams see the same player as a priority. Andrew Mangiapane wary of pressure in Toronto market While the financial offer and team fit were undoubtedly factors, another element may have influenced Mangiapane's decision; his own reservations about playing in his hometown. Reports indicate the forward may have had concerns about the intense media attention and expectations that come with being a local player in Toronto. For the Maple Leafs, it's a missed opportunity at a time when they can't afford many. The front office is now expected to explore the trade market for a forward, but given the current landscape, that solution might not come until the regular season is underway. Maple Leafs must regroup after Mangiapane snub Toronto's failure to land Andrew Mangiapane leaves a noticeable gap in their forward lineup. With several top free agents already signed elsewhere, Brad Treliving's task becomes even tougher. The team needs firepower, and fast. Whether it's a blockbuster trade or a shrewd depth signing, Toronto has to act decisively. Otherwise, losing Mangiapane to a conference rival could become the story that defines their offseason. Also Read:
News18
an hour ago
- News18
Elon Musk Floats Idea of Third Political Party on Independence Day 4th Of July US News
Elon Musk began his Fourth of July by firing off a series of social media posts in which he criticized President Donald Trump's signature tax and spending bill and teased his intention of starting a third party. News18 Mobile App -
Time of India
an hour ago
- Time of India
When Steve Jobs visited Moscow as he was 'looking for something to do', making a trip that made it to FBI files
Apple founder Steve Jobs reportedly made a trip to Moscow. When? In 1985, when Moscow was part of Soviet Union and shortly after reformist leader Mikhail Gorbachev's rise to power. According to a report in Cult of Mac, in a trip to the Soviet Union in 1985, Apple co-founder Steve Jobs aimed to bring Macintosh computers to Russia. The two-day visit saw Jobs lecturing computer science students, attending a Fourth of July party at the American embassy, and discussing the possibility of establishing a Mac factory in Russia. The trip came at a tumultuous time for Steve Jobs, who had been sidelined at Apple after a power struggle with CEO John Sculley. Seeking purpose, Jobs embarked on an overseas journey that included stops in Paris, Italy, and Moscow. In Paris, he met future U.S. President George H.W. Bush, discussing how Macs could spark a 'revolution from below' in the Soviet Union, where the less-powerful Apple II had recently launched. However, Jobs' visit wasn't without controversy. According to Walter Isaacson's 2011 biography, Jobs nearly clashed with the KGB by praising exiled Bolshevik leader Leon Trotsky, deemed an 'enemy of the people' by the Soviet regime. Cult of Mac cites Isaacson, noting that a KGB agent warned Jobs against discussing Trotsky, saying, 'Our historians have studied the situation, and we don't believe he's a great man anymore.' Undeterred, Jobs reportedly began a speech to Moscow computer students by lauding Trotsky, though a partial transcript of the speech omits this detail. Intriguingly, Jobs suspected the attorney organizing his trip might have ties to the CIA or KGB, a detail noted in his FBI file, which also mentioned his meeting with a Russian Academy of Sciences professor to explore marketing Apple products. Despite these, the trip reportedly yielded no Russian Apple division, aligning with what Cult of Mac describes as 'busy work' to keep Jobs away from Apple's management. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Glicemia acima de 130? Insira essa receita no seu café da manhã G!Saú Undo A surprising outcome emerged, however. Apple VP Al Eisenstat, staying at the same Moscow hotel, received a floppy disk from a nervous programmer containing advanced handwriting-recognition software. The report adds that members of the Apple Newton team later confirmed this code became the foundation for the Newton MessagePad's handwriting recognition feature. Though Jobs' Soviet venture didn't revolutionize Russia's tech landscape, it remains a fascinating chapter in his storied career, blending ambition, intrigue and unexpected technological gains. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
