Nvidia surpasses $3.6 trillion market cap, overtakes Apple amid Wall Street rally following Trump victory

Nvidia’s shares hit a new high on Thursday, marking a milestone as the chip giant became the first company to top $3.6 trillion in market value. This market rally was fueled by a broader wave of investor confidence following Donald Trump’s election victory, which has ignited hopes for tax cuts and reduced regulations.

Nvidia’s record-high price followed its recent leap past Apple to become the world’s most valuable company. On October 25, Nvidia’s valuation reached $3.53 trillion during trading, narrowly surpassing Apple’s $3.52 trillion. By the end of the day, Nvidia had gained 0.8%, closing with a $3.47 trillion valuation, while Apple’s stock rose 0.4%, ending at $3.52 trillion.

On Thursday, the AI chip leader saw its stock rise by 2.2%, further solidifying its place as one of Wall Street’s heavyweights. By the end of the day, Nvidia’s market value reached $3.65 trillion, outpacing Apple’s record of $3.57 trillion from October 21.

This achievement officially made Nvidia the most valuable company globally, according to LSEG data. Apple’s stock also gained 2.1% on Thursday, positioning its market value at $3.44 trillion, Reuters reported.

Nvidia is among several tech companies enjoying record stock boosts. The S&P 500 technology index surged over 4% in the two trading sessions since Trump’s win, reflecting broader optimism across tech stocks.

Nvidia has emerged as the U.S. market’s standout, benefitting from an intense push among Microsoft, Alphabet, and other major players to scale up their AI capabilities. As these companies invest heavily in building AI infrastructure, Nvidia’s stock continues to benefit, climbing 12% in November alone and tripling its value so far this year.

Following this impressive surge, Nvidia now boasts a valuation greater than the combined worth of companies like Eli Lilly, Walmart, JPMorgan, Visa, UnitedHealth Group, and Netflix. Analysts anticipate Nvidia’s quarterly revenue will jump by over 80% to $32.9 billion when it reports results on November 20, a substantial gain highlighted by LSEG.

Earlier in June, Nvidia briefly held the title of the world’s most valuable company, a position it lost to Microsoft and Apple in recent months. The three tech giants have maintained close valuations, with Microsoft’s market value now standing at nearly $3.16 trillion after a 1.25% increase on Thursday.

Nvidia’s rise this year reflects the growing dominance of AI-focused technology in today’s market, solidifying its place as a top player among the world’s most valuable companies.

Founded in 1991 by CEO Jensen Huang, Chris Malachowsky, and Curtis Priem, Nvidia has a rich history of GPU design and manufacturing innovation. Initially focused on gaming, Nvidia has broadened its scope to make significant advancements in artificial intelligence. The company’s contributions to AI and the gaming industry have established it as a tech powerhouse.

For many years, Nvidia primarily sold chips for gamers to run 3D titles. It also ventured into cryptocurrency mining chips and cloud gaming subscriptions. However, over the past two years, Nvidia’s shares have skyrocketed as Wall Street recognized the company’s technology as the driving force behind the explosive growth of AI. According to Forbes, this rally has increased co-founder and CEO Jensen Huang’s net worth to approximately $117 billion, placing him as the 11th wealthiest person globally.