NVDA: Nvidia Bolts Past Microsoft to Become World’s Biggest Company at $3.34 Trillion

Chip maker ranks first on board of world’s biggest companies after mind-blowing ninefold increase in less than two years.

• Nvidia stock NVDA bolted past Microsoft MSFT to conquer the number one spot as the world’s most expensive company. Boasting a valuation of $3.34 trillion, the chip giant added 3.5% on Tuesday, elbowing out then-number one Microsoft, which is now the runner up, worth $3.32 trillion. The feat follows a mega run spanning over the past two years, which has seen Nvidia’s market cap swell ninefold since the end of 2022.
• As recently as early June, Nvidia topped $3 trillion in and passed iPhone maker Apple AAPL — a milestone underpinned by the relentless pursuit of AI chips and AI gains. Nvidia is the key player in the artificial intelligence boom, which is powering stocks to all time highs, session after session. And to think that five years ago Nvidia wasn’t even in the top 20 biggest companies by capitalization.
• What’s next? Prospects for the world’s corporate champion by value remain bright. Earlier this week, Wall Street analysts pinned the highly optimistic price target on Nvidia of $160 a share. If materialized, it will push the company to the never-before-seen gargantuan valuation of $4 trillion. On the year, shares of Nvidia have been ripping, adding gains of more than 180%.