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.
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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.
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