Nvidia beats Apple to become most valuable company in the world

Nvidia

Nvidia has reached a historic milestone, overtaking Apple and Microsoft to become the most valuable company in the world. On July 3, the chipmaker hit a record-breaking market capitalisation of $3.92 trillion, surpassing Apple’s previous all-time high of $3.915 trillion set in December 2024.

This surge in value places Nvidia at the top of the global corporate leaderboard, ahead of Microsoft ($3.7 trillion) and Apple ($3.19 trillion). The milestone reflects the growing dominance of Nvidia in the artificial intelligence (AI) sector, where its chips have become the backbone of next-generation computing infrastructure.

Nvidia’s meteoric rise is closely linked to the AI boom. The company’s high-performance graphics processing units (GPUs), originally designed for gaming, are now critical for training and deploying large AI models. As companies like Google, Microsoft, Amazon, Meta, and Tesla race to build advanced AI capabilities and data centres, demand for Nvidia’s chips has skyrocketed.

According to Reuters, Nvidia’s latest AI processors are central to powering the most advanced generative AI systems, making the company a key enabler of the global AI transition. Investors have responded with strong confidence, driving Nvidia’s market cap from around $500 billion in 2021 to nearly $4 trillion today — a nearly eight-fold increase in just four years.

Nvidia’s current valuation exceeds the combined market capitalisation of all publicly listed companies in Canada and Mexico, according to LSEG data. It also surpasses the total value of all publicly traded companies in the United Kingdom, underscoring its global financial dominance.

The company’s stock has seen a sharp rebound as well, rising more than 68% since April 4. The dip earlier this year came after market concerns around U.S. President Donald Trump’s proposed tariffs. However, expectations of forthcoming trade agreements helped Wall Street regain confidence in Nvidia and other tech stocks.

The achievement cements Nvidia’s position as a foundational player in the AI revolution. While Microsoft and Google have invested heavily in AI platforms and applications, Nvidia’s strength lies in being the core technology supplier to nearly all major AI initiatives.