NVIDIA Flirts With Being Most Valuable Company Ever As Stock Surges On AI Demand

For a sliver of a moment, NVIDIA on Thursday became the most valuable company ever with a spike in share price sending its market cap to a staggering $3.92 trillion. The share price then dipped slightly, though NVIDIA still closed the day up 1.33%, good for a record high in market cap at $3.89 trillion to close out a trading day, and putting it within striking distance of another all-time record when the stock market opens back up on Monday.

Why not today? The 4th of July is a national holiday, and both the NASDAQ (where NVIDIA is traded under the stock symbol NVDA) and New York Stock Exchange are closed in observance of the holiday. So NVIDIA’s next opportunity to make history is at the end of the trading day on July 7, 2025.

For the most part, NVIDIA’s share price and resulting market cap have climbed over the past several years, driven in large part by booming AI demand. NVIDIA CEO Jensen Huang wisely (from a financial and investor standpoint) shifted the company’s main focus from gaming GPUs to AI chips for the data center, resulting in record quarterly earnings being the norm.

Gamers have grown accustomed to a frustrating market for GPUs, though. Before the AI boom, cryptocurrency mining created a shortage. The strain on supply from crypto miners eased up when Bitcoin mining shifted to ASIC hardware, but now there’s a burgeoning market for AI, with tech companies at large scrambling to position themselves to ride the next big wave.

For NVIDIA, however, this means that a $4 trillion market cap is within sight. In a note to clients, Webush analyst Dan Ives said he expects NVIDIA to hit that mark by summer, followed by a $5 trillion market cap within the next year and a half, according to Yahoo Finance.

We’ll see what this means for gaming in the months and years ahead, but for NVIDIA, AI is booming louder than any fireworks you’re likely to encounter today.