Nvidia share price rises to record after Trump victory, biggest company ever

• Nvidia hit an all-time high and became the world’s largest company by market valuation at $3.58 trillion.
• Nvidia’s rise follows a technical rally following Donald Trump’s election victory, with the Nasdaq 100 up nearly 3%.
• Analysts predict that Nvidia’s valuation could soon exceed $4 trillion amid the ongoing growth of the AI ​​market.

Nvidia shares rose as much as 5% on Wednesday to hit an intraday high of $146.47.

The gain catapulted Nvidia’s market valuation to $3.58 trillion, cementing its position as the biggest company in the world after it closed ahead of Apple on Tuesday.

This is the first time that Nvidia has taken the top spot on the list of most valuable companies since the end of October.

The stock surge came amid a broader rally for the trailing technology sector Donald Trump’s election victory, with the Nasdaq 100 rising nearly 3%.

Gains in Nvidia shares on Wednesday significantly outpaced gains in Apple shares, which were up just 0.12% at 3:05 PM ET.

Apple is now the world’s second-largest company, worth about $3.38 trillion, or about $200 billion less than Nvidia. The second largest company is Microsoft, which was worth $3.12 trillion on Wednesday.

In the two years since ChatGPT’s debut, shares of Nvidia, which supplies the technology sector with AI-enabling GPU chips, have added nearly $3.2 trillion to their market valuation. The stock has risen around 800 per cent.

Wall Street believes the gains could continue, some analysts expect the stock to soon top a $4 trillion valuation.

Bank of America analysts raised their Nvidia price target to $190 last week, citing strong upside and a “generational opportunity” as it grows its lead in the AI ​​space.

Another recent milestone for Nvidia is its inclusion in the Dow Jones Industrial Averagewhere the company will replace Intel on Friday.

Nvidia will report third-quarter results after the market closes on November 20.