Nvidia Overtakes Alphabet, One Day After Eclipsing Amazon
- Chip giant is up 49% in 2024, adding $602 billion in value
- Market cap of $1.83 trillion exceeds Alphabet’s $1.82 trillion
There seems to be no stopping Nvidia Corp.’s scorching rally. The day after surpassing the market value of Amazon.com Inc., the chip giant has now overtaken Alphabet Inc. as well.
Shares of Nvidia rose 2.5% on Wednesday, closing with a market capitalization of about $1.83 trillion, and topping the search giant’s value of roughly $1.82 trillion, data compiled by Bloomberg show. With the gain, the chipmaker has become the world’s fourth-most valuable company. Saudi Aramco, valued at about $2 trillion, looms as the next milestone.