Nvidia briefly became the most valuable company ever, surpassing Apple's record market capitalization before slipping below that mark.
Nvidia's market capitalization reached as high as $3.92 trillion, exceeding Apple's previous record of $3.915 trillion on Dec. 26, 2024.
Despite a temporary drop to $3.89 trillion, Nvidia remains the most valuable company, with Microsoft in second place at $3.7 trillion and Apple third at $3.19 trillion.
Factors contributing to Nvidia's surge include Wall Street's optimism about AI, demand from tech giants for AI data center products, and relatively modest price-to-earnings valuation.