NVIDIA overtook Apple and Microsoft in capitalization

On July 3, 2025, NVIDIA shares reached a new all-time high, with the company’s market capitalization at the peak of trading at $3.92 trillion, surpassing Apple’s previous record of $3.915 trillion set in December 2024. However, by the end of trading, the shares had fallen slightly to $159.60 per share, bringing the total valuation down to $3.89 trillion.

What’s Behind the Growth

NVIDIA’s steady rise in share price is attributed to the boom in artificial intelligence and high demand for the company’s GPUs used to train AI models. NVIDIA’s largest customers include tech giants such as Microsoft, Amazon, Meta, Alphabet, and Tesla, which are actively investing in AI-focused data centers.

Against this backdrop, NVIDIA briefly surpassed Microsoft ($3.7 trillion) and Apple ($3.19 trillion) in market value to become the world’s most valuable publicly traded company.

Four-year growth

Since 2021, NVIDIA’s value has increased eightfold, from $500 billion to nearly $4 trillion. According to LSEG, the company is now valued at more than the combined market capitalization of Canada and Mexico, and is worth more than all public companies in the UK.

Analysts’ forecasts

According to analysts at Wedbush, NVIDIA and Microsoft could reach a market capitalization of $4 trillion in the coming weeks, and within 12–18 months, growth to $5 trillion is not ruled out. Barclays and Loop Capital predict that NVIDIA’s value could reach $4.9–6 trillion in the future, largely due to the introduction of the new Blackwell architecture and demand for accelerators with HBM memory.