Nvidia is leading the race to become the world’s first $4 trillion (€3.4 trillion) company.
Apple had seemed destined to get there, peaking at $3.85 trillion in December 2024. However, Nvidia ($3.8 trillion) and Microsoft ($3.65 trillion) are now the frontrunners.
Apple ($3 trillion) has fallen well behind, with new product cycles and the disappointing Vision Pro yet to make a major impact.
Nvidia’s turnaround is striking. The stock tanked early in 2025 amid fears over China’s DeepSeek AI and tariff threats, but has soared almost 80 per cent from April’s bottom.
Too far, too fast? No, says Loop Capital, which envisions a $6 trillion valuation. Barclays sees $5 trillion on the horizon.
Nvidia chief executive Jensen Huang is similarly bullish, hailing AI and robotics as a “multitrillion-dollar opportunity” at Wednesday’s shareholder meeting. Indeed, Bank of America’s Vivek Arya goes further, calling Nvidia a “value stock” despite its rapid ascent, “given the kind of growth opportunity” it presents.
Market sentiment is fickle. For now, however, Nvidia is the frontrunner in the $4 trillion club.
