Nvidia has officially become the most valuable company in the world, overtaking Microsoft, after its stock surged over 4.33% on Wednesday, reaching a record high of $154.10. The chipmaker’s market capitalization now stands at $3.763 trillion, compared to Microsoft’s $3.658 trillion and Apple’s $3.010 trillion.
This historic rise was fueled by a bullish report from Loop Capital, which raised Nvidia's price target from $175 to $250, maintaining a “buy” rating. Analyst Ananda Baruah noted that Nvidia is leading a “Golden Wave” of generative AI adoption, with stronger-than-expected demand driving its growth. Despite the rally, Nvidia is trading at about 30x its estimated earnings, below its five-year average of 40x—highlighting that earnings growth is keeping pace with the stock's rise.
Nvidia, Microsoft, and Apple have been frequently trading the top spot in recent months. Microsoft reclaimed the lead in early June but now trails Nvidia once again. Meanwhile, Apple remains third, despite a modest 0.63% rise in its share price.
Here’s a quick snapshot of the current top 10 most valuable companies globally by market cap:
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Nvidia – $3.763 trillion (▲ 4.33%)
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Microsoft – $3.658 trillion (▲ 0.44%)
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Apple – $3.010 trillion (▲ 0.63%)
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Amazon – $2.250 trillion (▼ 0.37%)
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Alphabet (Google) – $2.075 trillion (▲ 2.24%)
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Meta (Facebook) – $1.781 trillion (▼ 0.49%)
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Saudi Aramco – $1.569 trillion (▼ 0.82%)
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Broadcom – $1.244 trillion (▲ 0.33%)
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TSMC – $1.155 trillion (▲ 1.20%)
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Tesla – $1.055 trillion (▼ 3.79%)
Nvidia’s rise is emblematic of the explosive demand for AI chips, cementing its position at the center of the tech industry's most powerful trend.
