Nvidia’s Market Cap Gained $338B This Week—That’s Larger Than the GDPs of Most Countries

Shares of Nvidia (NVDA) soared after the AI chipmaker reported yet another quarter of staggering revenue and earnings growth amid booming demand for its semiconductors. 

Thursday’s gains tacked more than $221 billion onto Nvidia’s market capitalization, in the second-largest daily gain on record. The only instance of a bigger one-day jump was when Nvidia shares surged more than 16% after its fiscal fourth-quarter earnings report in February, adding $272 billion to its market value. 

Shares rose again Friday, climbing 2.6% to $1,064.69 and bringing Nvidia’s market cap gain this week to more than $338 billion. That’s larger than the gross domestic products (GDPs) of most countries, the market values of most companies, and the budgets of most U.S. government agencies.

Putting $338 Billion in Perspective

For a better sense of how Nvidia’s earnings-fueled gain in market cap this week stacks up, $338 billion is:

• About equal to the entire market cap of Oracle (ORCL), the 20th largest company in the S&P 500
• $70 billion more than the market value of Advanced Micro Devices (AMD), one of Nvidia’s largest competitors in the AI chip market
• More than the combined market value of Morgan Stanley (MS) and Goldman Sachs (GS), two of America’s largest investment banks
• About half a year’s worth of sales at Walmart (WMT), the world’s largest company by revenue
• More than the GDP of Chile, and all but 43 countries, according to the most recent available data from the World Bank
• Twice the Department of Homeland Security’s annual budget
• More than Nvidia itself was worth as recently as November 2022