Nvidia share price rises to record levels after Trump victory, largest company ever

• Nvidia hit a record high, becoming the world's largest company with a market valuation of $3.58 trillion.
• Nvidia's rise follows a tech rally following Donald Trump's election victory, which saw the Nasdaq 100 gain nearly 3%.
• Analysts believe Nvidia's valuation could soon surpass $4 trillion as the AI ​​market continues to grow.

Nvidia shares rose as much as 5% on Wednesday, hitting a record intraday high of $146.47.

The gains catapulted Nvidia's market valuation to $3.58 trillion, solidifying its position as the world's largest company after it closed ahead of Apple on Tuesday.

It is the first time since the end of October that Nvidia has taken the top spot on the list of most valuable companies.

The stock rise came amid a broader recovery in the technology sector following Donald Trump's election victory, with the Nasdaq 100 rising nearly 3%.

Nvidia stock's gains on Wednesday handily outpaced gains in Apple shares, which were up just 0.12% as of 3:05 p.m. ET.

Apple is now the second largest company in the world with a value of around $3.38 trillion, around $200 billion less than Nvidia. The next largest company is Microsoft, which was worth $3.12 trillion as of Wednesday.

In the two years since ChatGPT's debut, shares of Nvidia, which supplies the tech sector with AI-enabled GPU chips, have added nearly $3.2 trillion to their market value. The stock is up about 800%.

Wall Street believes gains can continue Some analysts expect the stock to soon surpass $4 trillion in value.

Bank of America analysts raised their Nvidia price target to $190 last week, citing strong upside and growth “Generational opportunity” as it expands its lead in the AI ​​space.

Another recent milestone for Nvidia is its inclusion in the Dow Jones Industrial Average, with the company set to replace Intel on Friday.

Nvidia will report third-quarter results after the market closes on November 20th.