NVIDIA Market Cap Tops Microsoft By $470 Billion

NVIDIA (NASDAQ: NVDA) has the largest market cap in the world, at $4.25 trillion. Microsoft (NASDAQ: MSFT) is second, with a market capitalization of $3.77 trillion. That is a difference of $480 billion. That difference is equivalent to the market capitalization of ExxonMobil (NYSE: XOM).

Apple (NASDAQ: AAPL)  held the top market cap position for five years. Due to the lack of AI on the latest iPhone, it has fallen to third place, valued at $4.55 trillion. Microsoft held the spot off and on for two years—NVIDIA’s monster earnings and place at the center of the AI economy.

NVIDIA’s shares have risen 114% from their current 52-week low to the 52-week high.

NVIDIA holds a unique position in the tech universe. It is the arms merchant to the AI sector. Every company with massive AI data centers must pay NVIDIA for the chip engines that power them. If a company like Apple has an AI stumble, it has to pay NVIDIA for the hardware to catch up. And AI success stories like Microsoft’s have to pay NVIDIA to maintain their position.

America’s largest tech companies have committed to investing over $300 billion in AI data centers this year. As the industry continues to grow, the figure is expected to be substantial again in 2026. A considerable portion of those investment dollars will go to NVIDIA

NVIDIA’s earnings also drive its valuation. In the recently reported quarter, revenue rose 56% to $46.7 billion. Net income rose 59% to $26.4 billion. At its current revenue run rate, it will be larger than GM based on annual top line.

Another primary reason for NVIDIA’s success is its market share. By most estimates, it holds over 90% of chip sales in its sector. While that lead may shrink, based on its user base, it will not decrease significantly.

NVIDIA’s market cap lead over Microsoft will remain huge.

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