Nvidia is the first company to reach a $4 trillion valuation.
The chipmaker’s shares rose as much as 2.5% on Wednesday, pushing past the previous market value record ($3.9 trillion), set by Apple in December. Shares in the AI giant later closed at $162.88, shrinking the company's market value to $3.97 trillion.
Nvidia has rallied by more than 70% from its April 4 low, when global stock markets were sent reeling by President Donald Trump’s global tariff rollout.
Tech analyst Dan Ives called Wednesday's milestone a “huge historical moment for the U.S. tech sector.”
The record value comes as tech giants such as OpenAI, Amazon and Microsoft are spending hundreds of billions of dollars in the race to build massive data centers to fuel the artificial intelligence revolution. All of those companies are using Nvidia chips to power their services, though some are also developing their own.
In the first quarter of 2025 alone, the company reported its revenue soared about 70%, to more than $44 billion. Nvidia said it expects another $45 billion worth of sales in the current quarter.
“Global demand for Nvidia’s AI infrastructure is incredibly strong,” CEO Jensen Huang told investors in a May conference call.
Shares have surged nearly 20% this year on that explosive growth. Its shares are also higher by 1,500% over the course of the last five years. That also led Nvidia to unseat Microsoft in mid-June as the most valuable public company in the world.
A little over two years ago, Nvidia was worth just $500 billion. In June 2023, the company surpassed $1 trillion in value, only to double that by February 2024. Last month, the company's value hit more than $3 trillion.
Currently trailing Nvidia and Microsoft in the rankings are Apple at $3.15 trillion, Amazon at $2.36 trillion, Alphabet at $2.15 trillion and Meta Platforms at $1.84 trillion.
Still, Nvidia has faced a number of hurdles. In early April, as global markets were plunging on fears about Trump’s global tariffs, the company disclosed that it would take as much as a $5.5 billion hit from Chinese export restrictions imposed by the U.S. government. It ended up having to swallow most of that, with a $4.5 billion hit in the three-month period.
“The $50 billion China market is effectively closed to U.S. industry,” Huang said at the time.
The tech CEO has gained a cult following and become something of a global diplomat for artificial intelligence and Nvidia’s central role in it. In the last few months alone, Huang has made trips to meet with Trump at the president's Mar-a-Lago club in Florida. Huang has also met with the chancellor of Germany in Berlin, top European Commission leaders and senior lieutenants to President Xi Jingping in China.
