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NVIDIA edges closer to becoming world’s most valuable company NVIDIA edges closer to becoming world’s most valuable company

NVIDIA edges closer to becoming world’s most valuable company

Stock milestones: NVIDIA surpasses Apple, Nasdaq and S&P 500 make history.

Quick Take

On June 5, 2024, the Nasdaq and S&P 500 reached unprecedented heights, closing at 19,035 and 5,354, respectively. However, the standout story of the year has been NVIDIA’s phenomenal performance. NVIDIA’s stock has surged by 154% year-to-date and an astonishing 3,200% over the past five years.

SPX, Nasdaq, NVIDIA: 2019-2024: (Source: TradingView)
SPX, Nasdaq, NVIDIA: 2019-2024: (Source: TradingView)

June 5 marked a significant milestone as NVIDIA’s market capitalization soared to $3 trillion, placing it in the elite company of Apple and Microsoft. NVIDIA also surpassed Apple in market cap, closing at $3.011 trillion. NVIDIA is roughly 5% shy of Microsoft’s $3.151 trillion valuation, which would make it the biggest company in the world.

To contextualize NVIDIA’s meteoric rise, consider Bitcoin, which currently holds a market cap of $1.4 trillion. If Bitcoin were to reach a $3 trillion market cap, each coin would be valued at approximately $150,000.

RankNameMarket CapPriceTodayCountry
1Gold$16.027 T$2,3870.47%USA
2Microsoft$3.151 T$424.011.91%USA
3NVIDIA$3.011 T$1,2245.16%USA
4Apple$3.003 T$195.870.78%USA
5Alphabet (Google)$2.177 T$177.071.11%USA
6Amazon$1.886 T$181.281.08%USA
7Saudi Aramco$1.837 T$7.590.89%S. Arabia
8Silver$1.717 T$30.511.45%USA
9Bitcoin$1.398 T$70,946-0.31%
10Meta Platforms (Facebook)$1.255 T$495.063.79%USA

Source: companiesmarketcap.com