Nvidia (NASDAQ:NVDA) has reached an unprecedented milestone, achieving the highest market capitalization ever recorded by a publicly traded company. The chipmaker approached $5.3 trillion in value after closing at a new all-time high of $216.61 per share, up 4%, surpassing its previous peak of $212 set last autumn.
The stock’s rise has been remarkable over recent years, climbing roughly 1,300% over the past five years—equivalent to about a 14-fold increase since 2021.
Market sentiment remains overwhelmingly positive. Over the last three months, analysts have issued 40 buy ratings, alongside one hold and one sell recommendation. The average price target stands at $274.38 per share, suggesting further upside of nearly 26%.
With this surge, Nvidia has widened its lead as the world’s most valuable company, ahead of Alphabet at around $4.2 trillion and Apple at approximately $3.9 trillion. Microsoft follows with a valuation of $3.15 trillion, trailed by Amazon at $2.8 trillion, TSMC at $2.1 trillion and Broadcom at $1.98 trillion. Saudi Aramco, Meta and Tesla round out the top 10 at $1.75 trillion, $1.72 trillion and $1.42 trillion respectively. Notably, nine of the ten largest companies by market value are in the technology sector.
Recent gains have been supported by a broader rally in semiconductor stocks, driven by strong expectations for increased spending on data centers and artificial intelligence infrastructure.
Over the past month, Broadcom has risen 39%, Micron Technology 47%, AMD 65%, Texas Instruments 41%, and Intel 97%. Intel, in particular, has staged a sharp rebound, doubling in value since late March and surging 323% over the past year.
Analysts continue to back Nvidia’s long-term outlook, with some expecting a substantial rise in shareholder returns once its current investment phase in its industrial AI ecosystem is completed.
The company has committed more than $80 billion in recent months to this ecosystem, including partnerships with Intel, Nokia, OpenAI, Anthropic, xAI, Synopsys, Revolut, Wayve, Nscale, Lumentum Holdings and Coherent, among others.
According to Bank of America, the group led by Jensen Huang could generate over $400 billion in free cash flow between 2026 and 2027.
This latest rally comes alongside a renewed wave of investment in artificial intelligence ventures, including major funding commitments from Alphabet and Amazon to Anthropic, as well as reports of a potential $60 billion acquisition of Cursor by SpaceX.