Nvidia’s market cap is now greater than that of its leading competitors combined—and doubled—as it corners the market on chips for artificial intelligence.
The company’s $3.66 trillion market cap as of Monday was more than double the combined market cap of competitors ARM ($155 billion), Intel ($86 billion), AMD ($210 billion), and Broadcom ($1.1 trillion). And while Nvidia’s shares fell just over 5% Tuesday after opening at an all-time high of $153, the company’s market cap still stood at an eye-popping $3.47 trillion during intraday trading—well above the $3.15 trillion market cap sported by the next-biggest company, Microsoft.
Led by CEO Jensen Huang, Nvidia made history last year when it surpassed Apple to become the world’s most valuable company by market cap. And while as of Tuesday, the tech giants' ranking had reversed with Apple back on top, the growth of Nvidia’s market value over the past year makes it by and far the leader among chip companies globally.
Nvidia’s market cap has nearly doubled from the $1.2 trillion it notched a year ago and its stock skyrocketed about 170%. Wedbush Securities analysts led by Dan Ives wrote in a Tuesday note that Nvidia could reach a $5 trillion market cap as we head into the next 12 to 18 months.
Since last January, the company has introduced its newest Blackwell GPU architecture as the successor to its Hopper architecture, and on Monday during the 2025 CES trade show, Huang set his sights on robots and AI agents as the next phase of the company’s growth.
Over the past year, Nvidia’s financials have also shot up. Its revenue surged more than 93% to $35.1 billion from $18.1 billion between its fiscal third quarter of 2024, which it reported in November 2023, and its fiscal third quarter of 2025. Its net income also increased more than 100% during the same period to $19.3 billion.
To be sure, some market onlookers have cautioned that Nvidia’s recent success could be too good to be true. Goldman Sachs predicted in November that in 2025, the Magnificent Seven stocks, which include Nvidia, will outperform the S&P 500 by the lowest margin in seven years.
The stock market ended 2024 with the 10 largest stocks, Nvidia among them, making up 39% of the S&P 500’s total weight, the second-highest concentration ever recorded, according to Charles Schwab.
Some analysts have also warned that the overall market is too reliant on the Magnificent Seven stocks, which were up 67% in 2024 and significantly boosted the performance of the S&P 500.
Nvidia led the Magnificent Seven stocks with a 171% increase in 2024, beating out second-best Meta with a 65% increase.
