Nvidia became the first publicly traded company to close with a market capitalization above $4 trillion on July 10, driven by unprecedented demand for its graphics processing units.
Surging demand
Nvidia’s stock climbed more than 2% during trading on Thursday, briefly pushing its market value past $4 trillion before finishing the day above that threshold. The company’s shares have gained over 170% in 2025 as businesses around the world race to adopt artificial intelligence tools that depend on Nvidia hardware.
Nvidia’s processors are widely used for AI training and deployment by technology giants, cloud providers and research labs. The company’s quarterly revenue has jumped more than 200% year over year, with the majority of that growth coming from data center and AI chip sales. Nvidia controls more than 80% of the market for high-performance chips used in large-scale AI computing.
Jensen Huang’s rising wealth
Nvidia’s historic rally has also propelled the net worth of its Taiwanese American co-founder and CEO. According to the Bloomberg Billionaires Index, Jensen Huang’s net worth reached $144 billion in July, making him one of the wealthiest people in the world and surpassing Buffett’s $143 billion estimated net worth.
Speaking at Nvidia’s annual developer conference in June, Huang said, “We are at the beginning of a new industrial revolution. The demand for accelerated computing and generative AI is growing exponentially.”
Industry impact and market reaction
Nvidia’s climb to a $4 trillion market cap places it ahead of other technology giants including Microsoft and Apple, which have traded near but have not closed above that milestone. The company’s position as the dominant supplier of AI hardware has given it a significant advantage over competitors such as AMD and Intel.
Major cloud service providers including Amazon Web Services, Microsoft Azure and Google Cloud continue to expand their purchases of Nvidia’s high-performance H100 and Blackwell GPUs, leading to global supply shortages and premium pricing. Nvidia’s performance has been a key factor in record gains for the S&P 500 and Nasdaq in 2024, prompting fund managers and index providers to increase the company’s weighting in investment portfolios.
This story is part of The Rebel Yellow Newsletter — a bold weekly newsletter from the creators of NextShark, reclaiming our stories and celebrating Asian American voices.
Subscribe free to join the movement. If you love what we’re building, consider becoming a paid member — your support helps us grow our team, investigate impactful stories, and uplift our community.
