NVIDIA's Market Cap Surpasses Russia's GDP, Nearing $2 Trillion
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NVIDIA's market capitalization has exceeded the economic scale of countries like Russia, South Korea, and Australia.
NVIDIA's rapid rise has not only made it the third most valuable company in the U.S. but also surpassed the GDP of most other nations.
Last Friday, NVIDIA's stock closed at $788.17, bringing its market cap to $1.97 trillion. According to Forbes' compilation of IMF data released in February, this figure exceeds the GDP of all but 11 countries worldwide, including Russia, South Korea, and Australia.
Of course, comparing a company's market cap to a country's GDP isn't a perfect analogy, as GDP measures a nation's economic output, while market cap reflects the total value of a publicly traded company's shares.
Driven by the AI boom, NVIDIA's AI chips are in high demand. Over the past 12 months, its stock price has surged by over 200%.
In its recent earnings report, NVIDIA projected sustained demand for its products, leading to a $277 billion increase in market cap last Thursday—the largest single-day valuation gain in U.S. stock market history.
Currently, only a handful of companies, including Apple and Microsoft, have reached a $2 trillion market cap.
Earlier this month, NVIDIA surpassed Amazon and Alphabet to become Wall Street's third-largest company, trailing only Microsoft and Apple.
Last year, after about 24 years as a public company, NVIDIA's market cap first crossed the $1 trillion mark.