NVIDIA Surges to Become World’s Largest Company Amid AI Boom

NVIDIA Corp. (NVDA) has once again surpassed Apple Inc. to become the world’s largest publicly traded company by market capitalization. This milestone was achieved on Tuesday, with NVIDIA’s market cap reaching approximately $3.43 trillion, eclipsing Apple’s $3.38 trillion.

The surge in NVIDIA’s stock price is largely driven by the company’s dominant position in the artificial intelligence (AI) sector. NVIDIA’s chips are crucial for powering AI technology, and the demand for these chips has been on the rise, particularly from big tech companies like Meta and Google parent Alphabet. As a result, NVIDIA’s shares have more than doubled in value since the start of the year.

On Wednesday, NVIDIA’s stock continued to rise, breaking out at $140.76 and reaching a high of $144.63. This increase was also influenced by the outcome of the 2024 presidential election, with stock futures soaring after Donald Trump was declared the winner.

NVIDIA’s financial performance has been stellar, with the company experiencing an astronomical 850% growth since the end of 2022. The company’s market cap fluctuates, but it has consistently been among the top three most valuable companies, along with Apple and Microsoft).