Nvidia Nears $4 Trillion Milestone, Redefining Market Leadership in the AI Era

Nvidia’s astonishing climb continued on Thursday as the chipmaker reached a market capitalization of $3.92 trillion, briefly overtaking Apple’s historic high and signaling a new tech order driven by artificial intelligence.

Shares surged to $160.60, reflecting not just investor confidence, but Wall Street’s growing dependence on Nvidia as the engine behind the AI revolution. From generative models to enterprise infrastructure, Nvidia’s chips are now indispensable.

The company’s flagship processors, especially the latest H100 and Blackwell series, dominate in training large AI models used by giants like OpenAI, Google DeepMind, and Anthropic. With Microsoft, Amazon, and Meta pouring billions into data centers, Nvidia is seeing unprecedented chip orders.

“This is no longer about gaming GPUs. Nvidia is now the backbone of AI computing worldwide,” said a tech market analyst at Goldman Sachs.

While Microsoft and Apple remain close competitors—valued at $3.7T and $3.19T respectively—Nvidia’s strategic position in the AI supply chain gives it an advantage that few can rival.

Founded in 1993 by Jensen Huang, Nvidia’s journey from a niche graphics card producer to a market bellwether is one of tech’s most dramatic transformations. Its rise also displaced Intel on the Dow Jones, underscoring the semiconductor sector’s pivot to AI.

Interestingly, Nvidia’s valuation still appears reasonable to some analysts, with a forward P/E ratio of 32x. That’s below its five-year average—suggesting room for more upside if earnings continue to outperform.

As AI moves from trend to infrastructure, Nvidia’s swelling influence could reshape how investors define value in a tech-driven global economy.