NVIDIA’s stock price has reached an all-time high, bringing it very close to rivaling technology giant Apple in terms of market capitalization. This surge in price has contributed to a jump in NVIDIA’s market cap, which now stands at around $2.3 trillion. With this increase, NVIDIA has climbed to become the third most valuable company in the United States, surpassing Saudi Aramco. Apple, with a market cap of $2.61 trillion, is now the next target for NVIDIA to displace.
Until recently, NVIDIA was far behind Apple in terms of market value. However, the company has been hitting new milestones, including expanding into the Chinese market and surpassing Amazon as the fourth most capitalized public company in the U.S. In just three weeks, NVIDIA’s market value has grown to $1.83 trillion, outranking Amazon. The only companies ahead of NVIDIA are Alphabet, Microsoft Corp., and Apple. NVIDIA also recently crossed a $2 trillion valuation, indicating its rapid growth.
In the competitive AI industry, NVIDIA is showcasing significant growth and expansion, particularly in its AI pursuits. While OpenAI has dominated the Large Language Model market, other AI companies like Google and NVIDIA are launching innovative products, such as the Genie AI tool and Chat with RTX. With its shares growing at such a fast rate, NVIDIA may soon catch up to Apple in terms of market cap.