Nvidia (NVDA) Shatters Records—Briefly Crowned Most Valuable Company in History

Silicon Valley's favorite GPU slinger just pulled off a financial moonshot—if only for a moment.

Nvidia's market cap surge has Wall Street buzzing and tech bros high-fiving over their RTX-powered trading rigs. The chipmaker's AI-fueled rocket ride hit escape velocity this week, briefly eclipsing every corporate giant in history.

Not bad for a company that started out rendering polygons.

Behind the numbers: Those data center GPUs aren't just mining crypto anymore—they're printing money. Nvidia's silicon is the pickaxe in the AI gold rush, and everyone from startups to sovereign wealth funds is lining up to pay whatever it costs.

The fine print: 'Briefly' being the operative word. Like a crypto token hitting ATH before the inevitable correction, NVDA couldn't hold the top spot. Cue the hedge funds shorting the metaverse.

One hedge fund manager quipped: 'Turns out being the plumbing for the AI revolution pays better than actual AI companies.' Ouch.

Nvidia Continues to Dominate, Stock and Market Cap to Surge Further?

Nvidia has played a leading role in fostering some of the most critical changes in various critical market areas as hyperscalers remained and continue to over-rely on the firm in the AI chip sector when prices are still high. The value of the Nvidia market cap reflects this positioning strategy, which as of July 2 will be worth $3.7 billion, and such a figure helped propel various major growth plans across the sector. Sustained demand from hyperscalers who require Nvidia’s advanced technology for AI and machine learning operations drove this market cap climb, and these partnerships optimized multiple essential operational frameworks.

“When the first company crossed a trillion dollars, it was amazing. And now you’re talking four trillion, which is just incredible. It tells you that there’s this huge rush with AI spending and everybody’s chasing it right now,” said Joe Saluzzi, co-manager of trading at Themis Trading. Furthermore, last week, Loop Capital analyst Ananda Baruah raised his price target on Nvidia stock to $250, the highest of Wall Street analysts tracked by Yahoo Finance. The new price target suggests Nvidia’s market cap could soar to $6 trillion from its current $3.6 trillion level. “While it may seem fantastic that NVDA fundamentals can continue to amplify from current levels, we remind folks that NVDA remains essentially a monopoly for critical tech, and that it has pricing (and margin) power,” Baruah wrote in a note to investors