Nvidia became the first publicly traded company to briefly exceed a $4 trillion market capitalization on July 9, 2025, with shares surging to an intraday high of around $164—a milestone that underscores its dominance in AI hardware and investor confidence. The jump marks the culmination of an extraordinary ascent: from a $1 trillion valuation in 2023 to $2 trillion, then $3 trillion by mid‑2025 .
Nvidia’s GPUs power data centers and AI models worldwide, placing it $900 billion ahead of Apple and at the forefront of the AI revolution. Its first-quarter revenue of $44.1 billion—a 69% annual increase—and net profit of $18.8 billion reinforce strong fundamentals. Analysts project earnings growth above $100 billion this year, with a typical price target around $174 and near‑universal “buy” ratings.
Investors remain cautious, however. Nvidia’s 34× forward earnings multiple aligns with valuation norms but evokes warnings of bubble dynamics reminiscent of the dot‑com era. Harvard researchers show that industries doubling in value over two years often face sharp corrections.
Even so, institutional demand is strong. Microsoft, Amazon, Alphabet, Meta, and others are collectively investing $325 billion in AI this year—much of it fueling Nvidia’s growth. Wedbush analyst Dan Ives described Nvidia’s ascent as the next stage of the tech bull market.
While Nvidia dipped below $4 trillion later in the trading session, its achievement remains historic. It now accounts for 7.3% of the S&P 500, making it the most heavily weighted company in the index. Meanwhile, Microsoft eyes joining the $4 trillion club this summer, with forecasts aiming for a $5 trillion cap within 18 months.
Nvidia’s climb is a sign of shifting global tech power, with America’s AI industry leading the charge—underpinned by pro-growth policies, lower taxes, and a renewed emphasis on national security and private-sector excellence.
