Nvidia’s market capitalization increased by $277 billion on Thursday, bringing the company’s value to nearly $2 trillion.
The growth is the largest ever recorded for a publicly listed company, surpassing the previous record of $197 billion set by Meta/Facebook, according to Bloomberg.
Nvidia's shares rose by 15% a day after the chip giant posted profits that exceeded Wall Street estimates.
The chipmaker has become the third most valuable company in the US again, after shares reached a record level of $780.85 per unit, CNBC reports. Net profit increased by 769%.
The US technology giant reported revenues of $22.10 billion for the fourth fiscal quarter, a 265% increase from the previous year, while net profit increased by 769%, as the company continues to see momentum from enthusiasm for artificial intelligence.
Nvidia chips are used to train massive AI models, such as those developed by Microsoft and Meta.
Nvidia sees no signs of slowing down. The company estimates that its revenues in the current quarter will reach $24 billion, well above estimates.
"The conditions are excellent for continued growth" in 2025 and beyond, said Nvidia CEO Jensen Huang.
Nvidia's Data Center division, which includes the company's H100 graphics cards used for AI training, recorded sales of $18.4 billion in the fourth quarter of 2023, representing a 409% year-on-year increase.