Maybe it’s all in the power of a leather jacket.
On Wednesday, Nvidia hit $4 trillion in market value, beating Apple and Microsoft to the milestone. In doing so, Nvidia became the first publicly traded company in the world to hit the $4 trillion mark.
Despite Nvidia’s omnipresence and dominance as the chipmaker powering the AI spending surge, it wasn’t guaranteed that the company would get here before everyone else. In recent months, Nvidia and Microsoft, one of Nvidia’s primary customers, flip-flopped as the most valuable company, and Microsoft and Apple both beat Nvidia to the $3 trillion mark.
The company hit the $2 trillion milestone in February 2024 before exceeding $3 trillion this June, per CNBC.
Thus, here we are. Not that it’s any shocker. Nvidia’s chips are the fuel behind the data centers used by other companies racing to the same benchmark that Nvidia just clinched, including Amazon and Google as well as Microsoft and Apple, according to CNN. By 2028, global spending on AI infrastructure is expected to exceed $200 billion, per the International Data Corporation, a market research firm.
“This is a historical moment for Nvidia, the tech space flexing its muscles, and speaks to the AI Revolution hitting its next stage of growth led by the one chip fueling AI…Nvidia,” Dan Ives, a Wedbush analyst, told CNN via email. Ives added that Microsoft, with its current approximate $3.77 trillion valuation, will likely cross over to the $4 trillion club this summer.
And hey, maybe the other tech titans will follow soon after. But the early chipmaker got the worm.
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