Nvidia reclaims crown as world's most valuable company as $1 trillion rally continues
Nvidia stock has gained roughly 50% since hitting a 12-month low of just over $94 in early April, adding more than $1 trillion to the company's market capitalization as investors pile back into the "Magnificent Seven" Big Tech stocks.
Nvidia shares have been powered higher over the past week after the company's better-than-expected quarterly financial results and outlook on May 28 showed the chipmaker's revenue continuing to grow despite losing billions in sales from lost revenue to China due to a recent US export ban.
Nvidia's first quarter earnings report also showed the company has overcome supply chain hurdles to deliver its powerful and complex Blackwell AI servers to Big Tech customers such as Microsoft.
The stock rose 2.8% on Tuesday as Nvidia's contract chip manufacturer TSMC reaffirmed that AI chip demand remains robust. Additionally, a major customer, CoreWeave (CRWV), secured a new data center lease that, once online, would be filled with Nvidia's chips.
Nvidia stock has had a volatile year as investors questioned the sustainability of AI demand and Trump's trade war hammered shares.
Microsoft had held the top spot as the world's most valuable company since early May and traded places back and forth atop the leaderboard this year with Apple (AAPL). Nvidia last held the distinction in January.
Nvidia's recent gains have put the stock back in positive territory for the year, with the stock up roughly 5% year to date. Microsoft has gained nearly 10% over that time frame.
Meanwhile, Apple shares are down roughly 19% in 2025 as the company faces stiff AI competition and President Trump has threatened to tariff iPhone imports.
Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at laura.bratton@yahooinc.com.
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