Chipmaker Nvidia (NVDA) is close to becoming the first publicly traded company to achieve a $4 trillion U.S. market capitalization.
The milestone approaches as Nvidia’s stock continues to hit record highs, with some analysts predicting that the technology giant is days away from reaching a $4 trillion U.S. market cap.
Currently, Nvidia’s market capitalization stands at $3.74 trillion U.S., though it has been as high as $3.85 trillion U.S. recently.
After rising 15% in June and more than 40% from its April lows, Nvidia is once again the world’s most valuable publicly traded company.
Nvidia is ahead of second place Microsoft (MSFT), which has a current market cap of $3.68 trillion U.S. Third place Apple’s (AAPL) market cap stands at $3.14 trillion U.S.
Nvidia’s growth has been remarkable when one considers that the company first reached a $1 trillion U.S. market cap in June 2023.
Nvidia’s stock is rising as investors pile back into the artificial intelligence (A.I.) trade, betting that the company’s microchips and semiconductors will power future innovations.
It took Nvidia’s stock 262 days to reach a $2 trillion U.S. market cap, but then only 96 days to reach the $3 trillion U.S. milestone on June 5, 2024.
Now, Nvidia is closing in on a $4 trillion U.S. valuation, an achievement many on Wall Street had thought impossible.
Based on the stock’s daily average gain of 0.8%, the $4 trillion U.S. market cap could be reached in the next five trading days, or sooner if the share price rises at a faster rate.
NVDA stock is up a total of 11% this year and currently trading at $152.47 U.S. per share.
