Nvidia’s shares hit a record high on Monday (14), reaching a market value of $3.39 trillion, bringing the chipmaker closer to surpassing Apple, which ended the day with a valuation of $3.52 trillion. Nvidia’s stock rose by 2.4%, closing at $138.07, fueled by solid investor confidence in the growing demand for its AI processors, including its current lineup and upcoming Blackwell AI chips.
This surge comes ahead of Thursday’s earnings report from TSMC. This company manufactures Nvidia’s chips, which is expected to show a 40% increase in quarterly profit, reflecting the high demand for AI technology.
Big Techs compete for the position of most valuable
In June, Nvidia briefly claimed the title of the world’s most valuable company when its shares reached $140.76, but Microsoft soon overtook it. Currently, along with Apple—still holding the top spot—the three tech giants are in close competition for the title of the most valuable company in the world.
As investors anticipate quarterly earnings reports, shares of these Big Tech companies have been on the rise:
- Apple: up 1.2%
- Microsoft: up 0.9%
- Nvidia: up 2.4%
These gains have helped boost the S&P 500, a stock market index composed of 500 of the largest publicly traded companies in the U.S., which climbed 0.7%, reaching a new all-time high.
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