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Nvidia was already the world’s most valuable semiconductor firm. Now, it has become the first computer-chip company ever to hit US$3 trillion in market capitalisation.

Shares of the Santa Clara, California-based firm have risen roughly 147 per cent this year, adding about US$1.8 trillion as the insatiable demand for its chips used to power artificial intelligence (AI) tasks skyrockets. On June 5th, shares rose 5.2 per cent to close at a record US$1,224.40, pushing the market value to more than US$3 trillion and overtaking Apple in the process.

The last time Nvidia was worth more than Apple was in 2002, five years before the first iPhone was released. At the time, both companies were worth less than US$10 billion each.

Nvidia has shown no signs of slowing down or letting its rivals catch up. The company’s chief executive officer Jensen Huang said the firm plans to upgrade its so-called AI accelerators every year. Wednesday’s stock gain increased his wealth by more than US$5 billion to US$107.4 billion, according to the Bloomberg Billionaires Index.

ASML Holding NV became Europe’s second-biggest listed company, overtaking LVMH by market value for the first time ever.

The shares jumped 8.1% on June 5th, valuing the company that produces equipment needed to make the most sophisticated semiconductors at about €377 billion ($410 billion). That’s some €641 million more than luxury conglomerate LVMH. In European markets, only Novo Nordisk A/S is worth more.

ASML’s surge was helped by news that its biggest client, chip maker Taiwan Semiconductor Manufacturing Company (TSMC), will receive the high-NA extreme ultraviolet machine by the end of this year. The chipmaking tool is ASML’s most powerful yet and carries a high price tag of €350 million apiece.

For ASML investors, it offered reassurance about future sales as TSMC has previously raised concerns about the machine’s pricing. The stock had pulled back since April after first-quarter results showed that top chip makers held off buying high-end equipment.

“Significant orders are expected in coming quarters,” said Jefferies analyst Janardan Menon, who rated the stock as buy. TSMC is set to ramp up production for next-generation 2-nanometer chips in the second half of 2025, but ASML has not received major bookings so far, he added.

Editor：Vicky

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