Nvidia Stock Closes Above $4 Trillion Milestone for First Time

Nvidia co-founder and CEO Jensen Huang. (I-HWA CHENG/AFP via Getty Images)

Nvidia stock closed above the $4 trillion market cap milestone for the first time. It came a day after it became the first U.S. company to achieve $4 trillion on an intraday basis.

The chip maker’s shares gained 0.75% to $164.10. Nvidia closed at a market cap of $4.004 trillion. The S&P 500 and tech-heavy Nasdaq Composite were up 0.27% and 0.09%, respectively.

To provide some perspective on just how significant $4 trillion is: Bleakley Financial Group CIO Peter Boockvar noted in a Thursday Substack post that the figure equates to about 3.6% of global gross domestic product. At the peak of the dot-com bubble in March 2000, Cisco Systems had a $550 billion market cap that equated to about 1.6% of global GDP, Boockvar said.

He added that his comments weren’t an opinion on the stock, but “just a comparison” after the shares’ spectacular run.

Created with Highcharts 9.0.1Nvidia stockSource: FactSet

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The stock has surged more than 50% over the past three months, leading the broader market’s rebound from the April selloff unleashed by President Donald Trump’s “Liberation Day” tariff announcement. There is little reason to think the rally will fizzle out soon, with sky-high demand for AI likely to continue boosting the company’s earnings.

Tesla CEO Elon Musk’s xAI start-up launched its new chatbot, Grok 4, on Thursday, underscoring just how fast the space is developing.

Nvidia also is planning to launch an AI chip designed specifically for China, according to a report, just months after CEO Jensen Huang warned that U.S. export curbs could hit sales by $15 billion.

Huang could meet with Chinese leaders next week to discuss a version of one of Nvidia’s Blackwell graphics processing units that has been altered to fit the new regulations, the Financial Times reported Wednesday, citing people with knowledge of the plans.

Other chip stocks were mixed on Thursday. Advanced Micro Devices gained 4.2% but Broadcom slipped 0.9%.

Write to George Glover at george.glover@dowjones.com