Nvidia is again Wall Street's most valuable company. How it got there, by the numbers

Key Points

• Nvidia became the first publicly traded company to hit a $4.009 trillion market value, overtaking Microsoft and leaving only Apple above $3 trillion.
• The stock has surged about 1,000% since early 2023, turning a $100,000 investment into over $1.1 million.
• For the May–July quarter, Nvidia forecasts roughly $45 billion in revenue, with an estimated $8 billion hit due to U.S. chip export restrictions to China.
• Analysts expect Nvidia’s fiscal 2026 revenue to reach $200 billion, more than 50% above fiscal 2025 and triple that of two years ago.

Nvidia reached another milestone in its rise to becoming one of the world's most important companies: the first publicly traded company to reach a market value of $4 trillion.

Nvidia and other companies benefiting from the boom in artificial intelligence have been a major reason the S&P 500 has recently climbed to a record. Their explosion of profits has helped to propel the market despite worries about possible pain coming for the U.S. economy from tariffs and other policies of President Donald Trump.

The company’s journey to be one of the world's most prominent companies has produced some eye-popping numbers. Here’s a look.

$4.009 trillion

Nvidia’s total market value as of early Wednesday, tops in the S&P 500. It closed with a market value of $3.972 trillion.

Nvidia took over the No. 1 spot from Microsoft ($3.742 trillion) two weeks ago. Apple is the only other company with a market value above $3 trillion ($3.154 trillion). Nvidia’s market value in July 2023 was around $1.050 trillion.

1,000%

The approximate gain in Nvidia’s stock price since the start of 2023. A $100,000 investment in Nvidia two and a half years ago would now be worth more than $1,100,000. The shares are up about 21% so far this year.

$45 billion

Nvidia’s estimate for overall revenue in the May-July quarter, roughly in line with Wall Street estimates.

$8 billion

The estimated loss in sales for the quarter due to the U.S. government’s restrictions on Nvidia's chip sales to China.

$200 billion

Analysts’ estimate for Nvidia’s revenue for the fiscal year that ends in January 2026, according to FactSet. That would be more than 50% above its revenue for fiscal 2025 and more than three times its receipts from the year before that. By comparison, Microsoft's revenue for its fiscal year ended in June is estimated by analysts at $279 billion.

4 billion

The number of the latest iPhones one could buy with $4 trillion.