Nvidia’s market value has yet to surpass Apple Inc’s December 2024 record high of about US$3.92-trillion.Dado Ruvic/Reuters
Nvidia NVDA-Q reclaimed the top spot among the most valued companies worldwide in June, as its shares were supported by renewed optimism over its leadership in artificial intelligence and expectations of surging demand for its AI chips.
The chipmaker’s market value stood at US$3.86-trillion at the end of June, about 4.3 per cent higher than Microsoft Corp’s MSFT-Q US$3.69-trillion valuation.
However, Nvidia’s market value has yet to surpass Apple Inc’s AAPL-Q record high of about US$3.92-trillion set in December 2024. Apple, with a market capitalization of US$3.1-trillion, ranked as the third most valuable company at the end of last month.
Meta Platforms Inc META-Q, Broadcom Inc AVGO-Q, and Amazon.com Inc AMZN-Q saw their market values rise by 14 per cent, 13.9 per cent, and 7 per cent respectively last month, reaching US$1.86-trillion, US$1.3-trillion, and US$2.33-trillion.
The market value of Tesla Inc TSLA-Q dropped 8.3 per cent to US$1.02-trillion last month, with sentiment hit by CEO Elon Musk’s feud with U.S. President Donald Trump.
“We believe both Nvidia and Microsoft will hit the US$4-trillion market cap club this summer and then over the next 18 months the focus will be on the US$5-trillion club ... as this tech bull market is still early being led by the AI Revolution,” said Daniel Ives, an analyst at Wedbush Securities.