After surpassing the $5 trillion mark last week, Nvidia's market capitalization continued to rise above that level. In Monday trading (April 27), Nvidia's stock rose more than 4%, closing at a record high of $216.61 per share. As a result, the company's market capitalization reached $5.26 trillion, a level never seen before.
With this market cap, Nvidia is the world's most valuable publicly traded company, ahead of Alphabet, which had a market capitalization of $4.23 trillion at the close on April 27, and Apple at $3.93 trillion.
Nvidia only crossed the $5 trillion market capitalization last Friday, when its shares hit a record high for the first time since October last year. Investors rushed to buy Nvidia shares—the company leading the world in AI chips—before major tech firms, which are at the forefront of AI investment, report their Q1 2026 earnings this week.
Since the end of 2022, Nvidia's stock has risen about 15-fold, driven by enormous demand for AI services and models. Nvidia's graphics processing unit (GPU) products are indispensable to tech giants racing to lead in AI, such as Alphabet, Microsoft, Meta, and Amazon, as well as model developers like OpenAI and Anthropic.
Investors are optimistic about Nvidia's revenue and earnings prospects after chipmaker Intel posted first-quarter 2026 results above expectations last Thursday. On Friday, Intel shares rose 24%, the biggest gain since 1987. On Monday, those shares rose another 2.93%.
Nvidia is expected to report its first-quarter fiscal 2027 results, for the quarter ending April 30, on May 20.
There have been periods recently when investors sold large-cap technology stocks due to concerns about the sharp rise in
crude oil prices and supply-chain disruptions from the Gulf region conflict. However, in April this year, tech stocks rebounded strongly as demand for AI infrastructure showed no signs of slowing.
Since the start of the month, the Nasdaq index tracking technology stocks has risen about 15%, on track to complete the strongest month since April 2020.
Although Nvidia remains the leader in AI chips, it faces increasing competition from rivals such as AMD and Qualcomm.
Even Alphabet, a major Nvidia customer, recently announced a new chip product to compete with Nvidia's offerings. The new Alphabet chip is expected to be available to cloud customers this year.
