June 26 – Nvidia (NVDA) surged more than 4% on Wednesday, closing at $154.31 after hitting an intraday record of $154.97. The rally pushed the chipmaker’s market capitalization to approximately $3.76 trillion, surpassing Microsoft (MSFT) to reclaim its position as the world’s most valuable publicly traded company.
The stock’s upward momentum followed optimistic remarks from CEO Jensen Huang at Nvidia’s annual shareholder meeting. Huang emphasized the company’s long-term growth opportunities in artificial intelligence (AI) and robotics, forecasting multi-trillion-dollar potential in these sectors.
“We’re building toward a future powered by billions of robots, millions of autonomous vehicles, and thousands of AI-driven factories—all powered by Nvidia’s technology,” Huang stated.
Over the past year, Nvidia, Microsoft, and Apple (AAPL) have repeatedly traded places as the world’s most valuable company. Microsoft had recently taken the lead after overtaking Nvidia earlier in June.
Analyst Optimism Fuels Further Upside
Adding to the bullish sentiment, Loop Capital analyst Ananda Baruah raised Nvidia’s price target to $250 from $175, citing accelerating investments in hyperscale infrastructure and AI, which he estimates could grow to $2 trillion by 2028.
Baruah also highlighted Nvidia’s dominance in advanced semiconductor technology and pricing power, suggesting the company’s market cap could eventually reach $6 trillion.
Strong Earnings Underpin Growth
Nvidia’s most recent earnings report reinforced investor confidence, with revenue soaring 69% year-over-year, driven by a 73% surge in its data center segment. The company continues to benefit from soaring demand for AI-related hardware, solidifying its leadership in the tech industry.
As AI and automation reshape global markets, Nvidia’s strategic positioning and technological edge keep it at the forefront of Wall Street’s most valuable firms.