Nvidia Overtakes Apple As Second Most Valuable Tech Firm

Nvidia’s share price continues to soar amid fierce demand for AI chips, which continues to massively increase its market capitalisation.

So much so that on Wednesday, Nvidia’s share price rose 5.2 percent to end the day at $1,224.40, valuing the company at $3.012 trillion.

It’s share price on Thursday rose to $1,239.47, still giving Nvidia a market capitalisation of $3.012 trillion.

$1 trillion in 90 days

This is a quite remarkable achievement, considering that it was only in February 2024 when Nvidia’s Q4 and FY24 results had helped push the firm’s market value (market capitalisation) close to the $2 trillion mark.

It should be remembered that it was in May 2023 when Nvidia’s share price had surpassed the $1 trillion mark.

Nearly 9 months later it nearly breached $2 trillion.

Now just three months after reaching close to the $2 trillion mark, Nvidia has added another $1 trillion in market value, helped by the strong performance following its post-earnings rally.

Most valuable

And the fact that Nvidia is now valued at $3.012 trillion, means it is now the second most valuable tech firm in the world, after overtaking Apple, which is currently valued at $3.003 trillion.

Microsoft is the most valuable tech firm, as Redmond is currently valued at $3.150 trillion.

Amazon is currently worth $1.887 trillion, and Alphabet (Google) is now worth $2.117 trillion.

But the most valuable company in the world is Saudi Arabia’s national oil company, Saudi Aramco’s, which has a market valuation just under $6.848 trillion.

Meanwhile Nvidia is preparing to split its stock ten-for-one, on 7 June – in a move that could increase its appeal to individual investors.