On July 9, 2025, Nvidia became the first publicly traded company to exceed a $4 trillion market cap. The stock hit an intraday high of $164.42 before closing at $162.88.
Today, its market cap at 4.24 trillion represents nearly the total market cap of Apple ($3.19 trillion) and Tesla (0.986 trillion) combined. This isn’t merely a market anomaly; it’s a signal that AI is now a clear engine of global economic growth.
After years of being driven by the crypto mining sector and helping to shape the price of Bitcoin, Nvidia processors are now in high demand by the rapidly growing artificial intelligence industry.
In early 2025, Nvidia’s market cap lost $600 billion in a single day after the release of DeepSeek, the Chinese open-source AI that was touted to be very resource-efficient. Since then, it has pulled off a stunning comeback. In the first quarter, it raked in $44.06 billion in revenue (up 69% year-over-year) and almost $19 billion in net income.
Nvidia’s stock has risen over 27% since the year began. It has outperformed the S&P 500, which gained 8.6%. Its meteoric rise has also influenced broader market sentiment, with NASDAQ futures often reacting sharply to Nvidia’s earnings and guidance. As the company anchors AI momentum, tech-heavy indexes increasingly mirror its trajectory.
Investors have confidence in Nvidia’s long-term preeminence in AI in light of the Trump-backed Stargate Initiative. This ambitious new venture intends to invest $500 billion over the next four years in building new AI infrastructure for OpenAI in the United States.
This public-private partnership is significant, with Nvidia, OpenAI, SoftBank, and Oracle as partners, it aims to achieve a comprehensive set of objectives: to attract $500 billion in private investment and build AI infrastructure by 2029.
The project plans to develop several hyperscale data centers throughout the U.S. and is expected to generate 100,000 new jobs.
The initiative also fosters GPU-as-a-Service models to accommodate the growing demand for AI workloads. Nvidia, the dominant supplier of GPUs, stands at the heart of this transformation.
Nvidia’s valuation is comparable to the entire cryptocurrency market’s valuation, and is nearly worth twice as much as Bitcoin, which has a market capitalization of about 2.3 trillion.
Once a key player in hardware for crypto mining, Nvidia has become the backbone of global AI infrastructure. And capital is moving decidedly and steadily.
With Nvidia’s robust financial results and the massive $500 billion Stargate initiative, AI has become the gravitational center of the global economy, outperforming sectors such as crypto and even the total market capitalization of the FTSE index of the London Stock Exchange.
