Nvidia hits $4 trillion milestone
The success of the chipmaker has been buoyed by demand for artificial intelligence


What happened
Nvidia Wednesday became the world's first public company to achieve a $4 trillion market value. The success of the U.S. chipmaker, which finished the day at $3.97 trillion, has been buoyed by skyrocketing global demand for artificial intelligence, for which Nvidia is "building the bulk of the hardware," said CNBC.
Who said what
Under the helm of CEO Jensen Huang, Nvidia crossed the $1 trillion market value threshold in June 2023, "and tripled it in about a year," said Reuters. The tech giant is now "worth more than the combined value of the Canadian and Mexican stock markets," after beating Apple and Microsoft to the $4 trillion mark.
Nvidia's success proves AI is "pretty much the future of technology," Robert Pavlik, the senior portfolio manager at Dakota Wealth, told the news agency. It also shows Nvidia is seeing off competition from China's cheaper rival AI model DeepSeek.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What next?
The next "catalyst that could propel Nvidia's shares even higher" is the company's earnings report due at the end of August, Bloomberg said. A new Nvidia AI chip made specifically for China is expected by September and could help determine whether the firm can "retain a position in a crucial overseas market" amid global trade tensions, said the Financial Times.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jessica Hullinger is a writer and former deputy editor of The Week Digital. Originally from the American Midwest, she completed a degree in journalism at Indiana University Bloomington before relocating to New York City, where she pursued a career in media. After joining The Week as an intern in 2010, she served as the title’s audience development manager, senior editor and deputy editor, as well as a regular guest on “The Week Unwrapped” podcast. Her writing has featured in other publications including Popular Science, Fast Company, Fortune, and Self magazine, and she loves covering science and climate-related issues.
-
X CEO Yaccarino quits after two years
Speed Read Elon Musk hired Linda Yaccarino to run X in 2023
-
Musk chatbot Grok praises Hitler on X
Speed Read Grok made antisemitic comments and referred to itself as 'MechaHitler'
-
The first AI job cuts are already here
Feature Companies are removing entry-level jobs as AI takes over
-
The god in the machine
Feature An AI model with superhuman intelligence could soon become reality. Should we be worried?
-
AI chatbots are leading some to psychosis
The explainer The technology may be fueling delusions
-
Unreal: A quantum leap in AI video
Feature Google's new Veo 3 is making it harder to distinguish between real videos and AI-generated ones
-
Will 2027 be the year of the AI apocalypse?
In The Spotlight A 'scary and vivid' new forecast predicts that artificial superintelligence is on the horizon
-
College grads are seeking their first jobs. Is AI in the way?
In The Spotlight Unemployment is rising for young professionals