Nvidia Market Cap Surpasses $3.6 Trillion Milestone

On Thursday, Nvidia's stock reached an all-time high, making it the first company in history to surpass a market valuation of $3.6 trillion. Shares of the leading AI chip manufacturer rose by 2.2%, driven by investor optimism over potential tax cuts and regulatory easing following the election win of a Republican candidate earlier this week.

According to data from the London Stock Exchange, Nvidia's market capitalization closed at $3.65 trillion, exceeding Apple's October 21 record of $3.57 trillion, thus positioning Nvidia as the world's most valuable company. Apple’s stock also gained 2.1% on Thursday, bringing its market value to $3.44 trillion.

Since Tuesday's election results, the S&P 500 Technology Index has surged over 4% in just two trading days. Nvidia has emerged as a major player in the U.S. stock market amid fierce competition from tech giants like Microsoft and Alphabet, all racing to develop advanced AI computing capabilities to lead in emerging technologies. The Silicon Valley-based chip designer saw a 12% increase in its share price in November, doubling its value for 2024.

Analysts on average expect Nvidia's earnings report, due November 20, to reveal quarterly revenue growth exceeding 80%, reaching $32.9 billion. In June, Nvidia briefly held the title of the world's most valuable company before being overtaken by Microsoft and Apple. For months, these three tech giants have maintained close valuations, with Microsoft's market cap reaching approximately $3.16 trillion after a 1.25% stock increase on Thursday.