Nvidia’s market cap now bigger than India’s BSE Sensex

Chipmaker Nvidia has witnessed a massive growth in its share prices recently, with its market capitalization trumping the combined market cap of all 30 companies that form BSE Sensex. The market cap of the firm is close to $1.9 trillion.

In May 2023, Nvidia was less than half the size of Sensex. However, the market value of the company soared by 560 percent in less than two years.

The market capitalisation of the top 30 companies in the country, listed on Sensex, only grew 30 percent during the same period, as per CNBC TV18 data.

On Thursday, Nvidia shares recorded a growth of 15 percent in the premarket rally, a day after the stellar performance of the company in its quarterly reports impressed the shareholders.

As on February 22, Sensex companies have an overall market cap of $1.72 trillion, out of which Reliance Industries has the largest value. RIL is currently valued at $242 billion, accounting for 14 percent of the total value of Sensex.

Nvidia shares show record high growth

A day after the quarterly profits of the company pleased the investors, Nvidia shares jumped 16% to $785.38 as of the close Thursday in New York, a record high and the biggest single-day increase since May.

Nvidia’s market capitalization has now increased by more than $650 billion this year — bringing its valuation to $1.89 trillion — as investors bet that the company will remain the prime beneficiary of an AI computing boom.

The company further said in a statement that the revenue in the current period is expected to be around $24 billion, while analysts predicted an average revenue of less than $22 billion. Results in the fourth quarter also sailed past Wall Street estimates.

(With inputs from Bloomberg)