Nvidia Corp (NASDAQ:NVDA, ETR:NVD) is nearing a $4 trillion market capitalization, driven by soaring demand for its AI chips and strong investor enthusiasm around artificial intelligence technology.
As of early July, Nvidia’s market cap stands at approximately $3.9 trillion.
Its market cap has surged from $1 trillion in June 2023 to nearly $4 trillion in just under two years.
Nvidia’s AI chips have become essential for training today’s most advanced AI models, solidifying its position as the go-to supplier for tech giants building out massive AI infrastructure.
Among its customer base are Microsoft, Meta, Amazon, and Alphabet, all of which are ramping up investments in AI data centers.
Collectively, these companies are expected to spend nearly $2 trillion on AI infrastructure by 2028, and currently contribute more than 40% of Nvidia’s total revenue.
The company recently overtook both Microsoft and Apple to become the world’s most valuable company by market cap, surpassing Apple’s prior record of $3.915 trillion.
Shares of Nvidia traded hands at about $160 on Thursday, having gained almost 25% in the last 12 months.