Nvidia's new capitalisation heights: the company has surpassed Apple and Microsoft and is valued at more than the combined value of the stock markets of Canada and Mexico
On 3 July 2025, Nvidia shares set a new all-time record: the company's market capitalisation rose to $3.92 trillion, surpassing Apple's previous high of $3.915 trillion (set in December 2024). However, by the close of trading, the shares had fallen slightly in price - to $159.60 apiece, giving a total capitalisation of $3.89 trillion.
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Nvidia's steady rise in value is attributed to the rapid development of the artificial intelligence market and high demand for GPUs used to train AI models. Some of Nvidia's biggest customers include Microsoft, Amazon, Meta, Alphabet and Tesla. These companies are actively building their own AI-focused data centres.
On the back of such demand, Nvidia has significantly surpassed Microsoft ($3.7 trillion) and Apple ($3.19 trillion) in terms of capitalisation, ranking first in the world in terms of market value.
In four years (from 2021 to 2025), Nvidia's market value has grown eightfold - from $500bn to nearly $4 trillion. According to LSEG, Nvidia is now valued at more than the combined value of the Canadian and Mexican stock markets, as well as exceeding the total value of all publicly traded companies in the United Kingdom.
Wedbush analysts believe Nvidia and Microsoft could reach a $4 trillion capitalisation as early as this summer, and even $5 trillion in the next 12 to 18 months. Barclays and Loop Capital estimate Nvidia's potential at between $4.9 trillion and $6 trillion, mainly due to the development of the Blackwell architecture and high-speed HBM memory.
Source: Reuters
