Nvidia becomes first company to surpass $3.6 trillion market value

Shares of Nvidia soared to a record high on Thursday, pushing the chipmaker’s market value beyond $3.6 trillion for the first time in history.

The dominant AI chipmaker's shares rose 2.2%, lifted by broad investor optimism about tax cuts and lower regulations after the Republican candidate's Tuesday election victory, News.Az reports, citing Reuters.

Nvidia's stock market value ended the day at $3.65 trillion, beating Apple's record closing market capitalization of $3.57 trillion reached on Oct. 21, before the chipmaker on Tuesday overtook the iPhone maker as the world's most valuable company, according to LSEG data.

Apple's stock rose 2.1% on Thursday, leaving it with a market value of $3.44 trillion.

The S&P 500 technology index has surged over 4% in the two sessions since Trump won the election on Tuesday.

Nvidia has been the U.S. stock market's biggest winner from a race between Microsoft, Alphabet and other heavyweights to build out their AI computing capacity and dominate the emerging technology.

The Silicon Valley chip designer's stock has climbed 12% in November, with its value tripling so far in 2024.

Following this year's surge, Nvidia now exceeds the combined value of Eli Lilly, Walmart, JPMorgan, Visa, UnitedHealth Group and Netflix.

News.Az