Market capitalization data from financial news outlets such as Bloomberg or Reuters

Nvidia Becomes World's Most Valuable Company at $3.38 Trillion, Joins Dow

Nov 4, 2024, 02:43 PM

Nvidia, the prominent chipmaker driving the artificial intelligence boom, has overtaken Apple to become the most valuable company in the world. Nvidia's market capitalization now stands at $3.38 trillion, surpassing Apple's $3.35 trillion. This milestone coincides with Nvidia's inclusion in the Dow Jones Industrial Average, replacing Intel. Nvidia's stock has surged significantly, up approximately 10 times since the launch of ChatGPT in November 2022. The company's recent performance in the overnight market saw its stock price increase by 3.19%, while Apple's decreased by 0.50%. Nvidia's inclusion in the Dow marks a significant shift, as Intel had been part of the index since November 1999. According to the New York Times, Nvidia started the year as the sixth largest stock at a $1.2 trillion market cap and has now become the largest stock in the world.