NVIDIA shares have continued to advance beyond the $2 trillion mark, a milestone they reached at the end of last week. With a price increase of 3.61% to $852.52 per share, NVIDIA’s capitalization has risen to $2.13 trillion, making it the third largest company globally by market value and surpassing Saudi Aramco, whose capitalization has dropped to $2.01 trillion.
It is important to note that NVIDIA was only the third-largest company in terms of capitalization within the American stock market by the end of February. However, today, in global public company rankings, it has surpassed the Saudi Arabian oil company, Saudi Aramco.
Since the beginning of this year, NVIDIA’s stock has risen in price by 72.12%. As a result, the company’s capitalization has increased to $2.13 trillion, which is ahead of the Saudi energy giant, while still trailing behind Apple and Microsoft.
On the other hand, Saudi Aramco’s stocks have declined by more than 5% since the beginning of the year. This is due mainly to OPEC+’s decision to cut oil production volumes in order to maintain prices. Nonetheless, the capitalization gap between the two companies is still not substantial enough to suggest irreversible dynamics.
The rise in NVIDIA’s stocks can be attributed to investors’ expectations related to the growth of its artificial intelligence business.
