Donald Trump win: Nvidia becomes first tech company to make this 'record' beating Apple
Nvidia’s stock soared to new heights, taking the chipmaker to a historic milestone. The US-based chipmaker’s company’s market capitalisation surpassed $3.6 trillion, making it the first ever to achieve such a valuation. Reportedly, this surge comes soon after the market was fueled by the recent re-election of Donald Trump as the US President.
As per news agency Reuters, Nvidia’s shares rose 2.2% on Thursday (November 7), driven by expectations of potential policy changes that could favour the tech industry. The company’s stock market value closed at $3.65 trillion, exceeding Apple‘s previous record of $3.57 trillion set on October 21.
Where do Apple, Microsoft stand
The latest surge placed Nvidia ahead of other tech giants in terms of market capitalisation with Apple’s market value standing at $3.44 trillion, while Microsoft trails at nearly $3.16 trillion at the time of writing. This is not the first time that Nvidia has overtaken both Apple and Microsoft, it recently surged ahead of the tech giants to become the most valued company.
In June, Nvidia briefly became the world’s most valuable company before it was overtaken by Microsoft and Apple. The tech trio’s market capitalisations have been neck-and-neck for several months.
This achievement essentially solidifies Nvidia’s position as a dominant force in the semiconductor industry, particularly in the rapidly growing field of artificial intelligence (AI) – beating tech giants like Google and other heavyweights working on the same technology.
Musk’s net worth surged by $26.5 billion
It is not just Nvidia that had its worth jump exponentially – Elon Musk’s net worth also surged by $26.5 billion after Trump’s victory in the US elections. Musk, the world’s richest person and who has been one of Trump’s biggest supporters, reportedly donated around $130 million to Trump’s campaign as well as supporting him on his social media platform X (earlier Twitter). Moreover, Musk’s Tesla saw a 15% increase in its share price.