Nvidia shares surged to a record high on Wednesday, reclaiming the title of the world’s most valuable company amid continued investor optimism around artificial intelligence. The rally followed Chief Executive Jensen Huang’s presentation of the company’s latest technologies at its annual shareholder meeting.
Nvidia stock price closed 4.33% higher at $154.31 apiece, lifting Nvidia’s market capitalisation to approximately $3.77 trillion. The chipmaker overtook Microsoft Corp., which ended the session with a valuation of $3.66 trillion after a 0.44% rise in its share price.
Over the past year, Nvidia, Microsoft, and Apple have traded places at the top of the global market cap rankings. Apple share price rose 0.63% on Wednesday, giving the iPhone maker a market capitalisation of $3.01 trillion.
The latest rally in Nvidia shares reflects a renewed investor appetite for AI-driven stocks, which have powered significant gains in semiconductor and technology sectors in recent years. At the meeting, CEO Jensen Huang reassured shareholders about strong ongoing demand and reiterated that the computing industry is still in the early stages of a sweeping AI infrastructure transformation.
Adding to the bullish sentiment, Loop Capital raised Nvidia share price target to $250 from $175 while maintaining a “buy” rating, citing the company’s positioning to benefit from a “Golden Wave” of AI adoption, according to a Reuters report.
Nvidia Share Price Performance
Nvidia share price has risen 17% so far in 2025, following a 170% rally in 2024 and a nearly 240% surge in 2023.
Despite the sharp gains, Nvidia recently traded at about 30 times analysts’ projected earnings for the next 12 months — below its five-year average of around 40, according to LSEG data. The lower price-to-earnings ratio reflects robust earnings growth, which has continued to outpace the company’s substantial stock price appreciation.
(With inputs from Reuters)
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