Semiconductor giant NVIDIA briefly became the world’s first company to exceed a $4 trillion (17.01 trillion ringgit) market capitalization.
During trading on the 9th, NVIDIA’s stock price climbed 3% over the previous session, pushing its market cap past $4 trillion, overtaking second-ranked Microsoft and third-ranked Apple.
However, based on the closing price, NVIDIA’s stock closed up about 2% from the previous day, at over $162 (689 ringgit), bringing its market cap back below $4 trillion. The previous record for highest market cap at closing price was set by Apple in December 2024 at $3.9 trillion (16.58 trillion ringgit); NVIDIA’s closing market cap on Wednesday surpassed this record.
NVIDIA’s market cap broke the $1 trillion (4.25 trillion ringgit) mark in May 2023, reached $2 trillion (8.5 trillion ringgit) in February 2024, and in June 2024 became the third company in history to surpass $3 trillion (12.75 trillion ringgit). Just about a year later, its market cap increased by another $1 trillion. Founded in 1993, NVIDIA has become the fastest company globally to reach a $4 trillion market cap in about 30 years.
In January this year, NVIDIA’s stock price plunged briefly due to the rise of Chinese AI company DeepSeek. DeepSeek developed high-performance AI models at low cost, raising concerns in the market that fewer semiconductors might be needed. However, demand for AI semiconductors continues to expand.
In May, NVIDIA forecasted that its sales from May to July 2025 would increase by 50% year-on-year. Tech giants such as Microsoft and Meta continue to invest heavily in AI development, driving strong demand for NVIDIA’s high-performance semiconductors.