Nvidia Corporation has now become the world’s largest company based on its market value, passing Apple Inc. As of the market closing on Tuesday, Nvidia’s market value hit $3.43 trillion, which is more than Apple’s $3.38 trillion.
Nvidia’s shares went up by 2.9% to $139.93, making its market value $3.43 trillion. This means Nvidia now makes up 7% of the S&P 500 Index. Microsoft Corporation is next with a market value of $3.06 trillion.
Nvidia’s remarkable growth is attributed to its leadership in the AI sector, driven by strong demand for its graphics processing units (GPUs) and high-performance computing solutions. The company’s latest earnings report showed a revenue of $30 billion, which is 15% higher than the previous quarter and 122% more than the same time last year.
“Nvidia hit a new high in sales as data centres around the world speed up their changes with better computing and AI that creates new things,” said Jensen Huang, Nvidia’s CEO.
In the first six months of fiscal year 2025, Nvidia gave back $15.4 billion to its investors through buying back shares and paying dividends, and still has $7.5 billion left to buy more shares.
Looking forward, Nvidia thinks it will make about $32.5 billion in the third quarter of fiscal 2025, give or take 2%. The company will talk about its third-quarter results in a meeting on November 20.
Because more people want AI chips, Huang asked SK hynix to speed up the making of its next-generation high-speed memory (HBM4) by six months. This shows how much people want Nvidia’s AI helpers, which need HBM chips to do tasks that use a lot of data.
