In a landmark moment for the technology sector, Nvidia has overtaken Apple as the world’s most valuable company, signaling a dramatic shift in market dominance fueled by the surging demand for artificial intelligence. The chipmaker’s market capitalization now exceeds $4.5 trillion, according to recent analysis from consultancy EY[[1]], [[2]] and [[3]]. This milestone reflects investor confidence in the long-term potential of AI and the critical role Nvidia plays in powering its advancements.
Nvidia has surpassed Apple to become the world’s most valuable company, a milestone reflecting growing investor confidence in artificial intelligence-related stocks. The American chipmaker’s market capitalization exceeded $4.5 trillion, according to a study published Wednesday by consultancy EY.
The shift in market leadership underscores the increasing importance of the semiconductor industry in powering technological advancements. Apple, the iPhone manufacturer, currently holds a market capitalization of approximately $4 trillion, EY data shows.
Nvidia’s valuation is nearly double that of the combined value of all 40 companies listed on the Frankfurt Stock Exchange’s DAX 40 index, which stood at $2.5 trillion at the end of last year.
U.S. tech giants continue to dominate the global rankings, with Alphabet, the parent company of Google, ranking third with a market capitalization of nearly $3.8 trillion, followed by Microsoft and Amazon.
“2025 was dominated by artificial intelligence on global stock markets. The euphoria surrounding AI business models and new applications has led to significant increases in stock prices worldwide,” said Henrik Ahlers, Chairman of the EY Board of Management. “However, the main beneficiaries are primarily in the U.S. and Asia.”
American firms continue to lead global equity markets, with 60 of the world’s 100 most valuable companies headquartered in the U.S. Eight American companies are in the top 10. The other two firms in the top 10 are Saudi Aramco, the oil company (ranked 8th), and TSMC, the Taiwanese chipmaker (ranked 10th).
In November, Nvidia CEO Jensen Huang predicted massive demand for the company’s chips, which are fueling a global AI boom, and downplayed concerns about a potential AI bubble.
Huang’s statements were supported by the company’s quarterly revenue forecasts, which significantly exceeded Wall Street analysts’ estimates.
Nvidia’s performance is closely watched as a key indicator for the AI industry, particularly following the launch of ChatGPT in 2022.
During the third quarter of its fiscal year, which ended October 26, 2025, Nvidia reported record revenues of $57 billion, a 22% increase from the previous three months and a 62% increase year-over-year. Net profit for the quarter reached $31.9 billion, up 21% from the prior quarter and 65% from the same period in 2024.
Both revenue and profit figures surpassed analyst expectations.
Looking ahead to the fourth quarter, Nvidia anticipates revenues of $65 billion, plus or minus 2%, also exceeding analyst estimates.
