NVIDIA CEO Jensen Huang at CES. Image: pestoverde/Flickr
NVIDIA’s market value broke a record on Wednesday after dipping in spring amid political uncertainty and chip restrictions.
California-based chipmaker NVIDIA has ridden the generative AI boom to become the world’s first $4 trillion company. The milestone market value was reached on the Nasdaq exchange on Wednesday morning.
Shares closed on Wednesday at $162.88 per share, with a market capitalization of $3.974 trillion. NVIDIA’s revenue this year is $44.1 billion.
NVIDIA is now very influential on the stock market, being worth the same amount as the 214 smallest companies in the S&P 500 combined, according to The Wall Street Journal.
The market value comes at an interesting time geopolitically, as NVIDIA has become a battleground for both former President Joe Biden and President Donald Trump’s bans on sales of advanced chips to China.
In addition, NVIDIA’s stock fell in the spring due to President Trump’s proposed tariffs and export restrictions.
NVIDIA has been on the rise since the launch of ChatGPT in late 2023. (Previously, the company had a good foothold in data centers and, for a few years, was in demand for cryptocurrency mining.) Generative AI has increased demand for GPUs, as the chips — previously known primarily for enabling graphics in video games — have proven useful for those workloads. In 2023, NVIDIA achieved a $1 trillion closing value for the first time, as the AI industry increasingly demanded more of its products.
NVIDIA’s stock dipped on the occasion of another AI milestone: the release of the Chinese company DeepSeek’s advanced model R1 in January 2025. DeepSeek used about 2,000 NVIDIA H800 processors, which were fewer and less powerful processors than its competitors. NVIDIA stock fell 20% on the suggestion that the surge in demand might be over; however, other companies required increasingly advanced chips, and NVIDIA’s star continued to rise.
Alphabet’s Google, OpenAI, and Meta all demand NVIDIA chips for their cutting-edge generative AI chatbots and other products.
Two other companies have approached a $4 trillion market value recently: Apple ($3.915 trillion) and Microsoft ($3.708 trillion).
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Megan Crouse has a decade of experience in business-to-business news and feature writing, including as first a writer and then the editor of Manufacturing.net. Her news and feature stories have appeared in Military & Aerospace Electronics, Fierce Wireless, TechRepublic, and eWeek. She copyedited cybersecurity news and features at Security Intelligence. She holds a degree in English Literature and minored in Creative Writing at Fairleigh Dickinson University.
