Trillion-dollar club: Nvidia dethrones Apple as the most valuable tech giant

In a dramatic shift at the pinnacle of global markets, Nvidia has dethroned Apple to become the world’s most valuable company by market capitalization as of January 24, 2025.

The chip giant, known for powering the AI revolution, now reigns supreme in a testament to the era of artificial intelligence and innovation-driven dominance.

Seismic change

This seismic change reshapes the hierarchy of industry titans, with Nvidia's meteoric rise fuelled by insatiable demand for its cutting-edge chips that underpin advancements from generative AI to autonomous technology.

Meanwhile, Apple, the long-standing king of market value, must contend with slowed growth and intensifying competition in a rapidly-evolving tech landscape.

Nvidia’s ascent marks not just a triumph for the company but a signal of the shifting winds of tech supremacy — where AI now commands the throne, ushering in a new world order.

As of January 24, 2025, these seven tech firms have achieved a collective market capitalisations hitting almost $18 trillion:

NVIDIA surpassed the $3 trillion market cap milestone in 2024, fuelled by its leadership in graphics processing units (GPUs) and AI technologies. Its share price more than doubled (128%) in value from $62.47 in January 2024 to $142.62 as of January 24, 2025. The company's products are integral to various high-growth tech sectors.

Apple became the world's first company to reach a $3 trillion market cap in January 2022. Its stock was up 30.1 per cent in 2024. 

On June 27, Apple had a $3.35 trillion market capitalisation, down from $3.67 trillion on January 3, 2025 as its stock slid from $243.37 to $222.78 during the period. Analysts project it may soon achieve a $4 trillion valuation, driven by advancements in artificial intelligence and strong product sales.

Microsoft has consistently maintained a market capitalisation above $3.30 trillion in recent days, bolstered by its cloud services and enterprise solutions. A key driver in its growth: investments in AI and other technologies. Its stock price went up to $444.06 on January 24, 2025, from $418.58 on January 2, 2025.

Amazon's market cap has surpassed $1 trillion, driven by its expansive e-commerce platform and leading cloud computing services through Amazon Web Services (AWS). Its shares are up 45.63 per cent from $161.26 on January 29, 2024 to $234.85 on January 24, 2025, with a market capitalisation of $2.47 trillion.

Alphabet, Google's parent company, has a market capitalisation exceeding $2 trillion, supported by its dominance in digital advertising and ongoing innovations in AI and other technologies. Its shares went up from $154.84 on January 29, 2024, to $201.90 as of January 24, 2025, up 30.39 per cent over the past year. Some of the companies owned by Alphabet include YouTube, Waze, DoubleClick, Nest, Looker, Fitbit, and Mandiant.

Formerly known as Facebook, Meta reached a market capitalsation over $1 trillion, focusing on social media platforms and investments in virtual and augmented reality. As of January 2025, Meta Platforms (Facebook) stands as the world's 6th most valuable company by market cap according to our data.

Tesla achieved a market cap exceeding $1 trillion, reflecting its position as a leader in electric vehicles and renewable energy solutions. The EV maker’s market cap hit $1.27 trillion as share shot up 112.95 per cent over the past year from 190.92 on January 29, 2024 to $406.58 as of January 24, 2025. The rollout of a lower-priced, affordable model, could help raise deliveries for 2025, and refresh its product lineup. While the rollback of the $7,500 tax credit for EV buyers under Trump could pose a challenge, the new administration's focus on accelerating AI and autonomous vehicle developments could benefit Tesla's initiatives in these areas, as per the Financial Times.

These companies represent the pinnacle of financial success, each playing a significant role in shaping the global economy through technological innovation and market influence.