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From $1T to $4T—NVIDIA hits record valuation in 2 years
10 Jul 2025

NVIDIA has made history by becoming the first public company in the world to reach a market capitalization of $4 trillion.

The milestone was achieved on Wednesday, with shares hitting an intraday high of $164.42 within the first hour of trading before closing 1.8% higher at $162.88.

The achievement comes amid strong demand for artificial intelligence (AI) technologies and optimism surrounding trade talks with various countries, including China.

NVIDIA's market cap surge
Growth trajectory

NVIDIA first hit a $1 trillion market cap in June 2023. The company's value has since more than tripled in about a year, outpacing tech giants Apple and Microsoft.

Apple's market cap crossed the $3 trillion mark in 2022, while Microsoft is currently the second-largest US company with a market cap of approximately $3.75 trillion.

NVIDIA's Q1 results and Citi's updated price target
Financial outlook

In the first quarter, NVIDIA posted a revenue of $44.1 billion, up 69% from last year, with an earnings per share of $0.81.

For the second quarter ending August 27, the company expects a revenue of $45 billion with a margin of error of plus or minus 2%.

Citi analysts have raised their price target for NVIDIA to $190 from $180 amid soaring "sovereign AI" demand.

NVIDIA's chips are critical to the rapid expansion of AI
Market influence

NVIDIA's advanced chips are critical to the rapid expansion of artificial intelligence.

The company is significantly involved in sovereign AI investments, with major contributions from governments and other organizations.

Citi now expects the AI data center market to reach $563 billion by 2028, up from their previous estimate of $500 billion due to stronger-than-expected demand for sovereign AI.