Nvidia’s market value surpassed those of fellow technology titans Amazon and Alphabet on Monday, an almost unbelievable feat accomplished as Nvidia’s stock more than quadrupled over the last 15 months as investors bought into Nvidia’s market-leading position in artificial intelligence.
KEY FACTS
Shares of Nvidia rose nearly 3% to an record high of over $740, bringing its market capitalization to $1.83 trillion, narrowly surpassing Alphabet’s $1.82 trillion and Amazon’s $1.8 trillion.
The symbolic passing of the torch caps Nvidia’s remarkable journey as Wall Street flooded into the stock amid the AI boom.
Nvidia’s market cap sat below $300 billion as recently as October 2022, just before the AI wave began to crest, lagging far behind Amazon and Alphabet’s above $1 trillion valuations at the time.
Nvidia is now the fourth most-valuable public company in the world, trailing only Microsoft ($3.1 trillion), Apple ($2.9 trillion) and Saudi Aramco ($2 trillion).