Nvidia's market value tops US$4 trillion
Shares of Nvidia ended up zero point seven five per cent at US$164.10, giving it a market value of US$4.00 trillion and extending its lead over Apple and Microsoft as it benefits from a surge in demand for artificial intelligence technologies.
Nvidia's stock market value briefly peaked above US$4 trillion on Wednesday before closing at about US$3.97 trillion.
It is worth more than the combined value of all publicly listed companies in the UK.
Nvidia's high-end processors are at the centre of a race between Microsoft, Amazon, Alphabet, Meta Platforms and other Wall Street heavyweights to build AI data centres and dominate the emerging technology.
Nvidia is also exposed to conflict between Washington and Beijing over trade, including restrictions on exports to China of its most powerful chips.
"Trade tensions and tariffs are a risk, as is competition. Greater AI adoption could shift part of the demand toward cheaper alternatives," Swissquote Bank senior analyst Ipek Ozkardeskaya wrote in a client note.
Nvidia achieved a US$1 trillion market value for the first time in June 2023 and tripled it in about a year, faster than Apple and Microsoft, the only other US firms with market values above US$3 trillion.
Microsoft is the second most valuable US company, with a market capitalisation of US$3.73 trillion. Its shares dipped zero point four per cent on Thursday.
Apple's stock has tumbled 15 per cent so far in 2025, leaving its market value at US$3.17 trillion, reflecting investor worries that the iPhone maker has been slow to introduce AI into its products and services.
Even after its meteoric rally, Nvidia's stock is valued at about 33 times expected earnings, below its five-year average of 41, according to LSEG.
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