Nvidia's market cap is equivalent to 3.6% of global GDP
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A company that went public in 2019, Aramco has a current market capitalization more than three times as large as its nearest challenger, the American firm Exxon Mobil. According to data compiled by Companies Market Cap, indeed, Aramco’s present market cap is greater than that of the next seven biggest oil and gas companies combined.
The jump on Wednesday marks a milestone for the stocks, which embarked on a stunning rally in the years since ChatPGT debuted in 2022.
Wedbush said Microsoft (NASDAQ:MSFT) is next in line to the $4T market cap club, after Nvidia (NVDA) breached the mark on Wednesday, citing "AI Revolution." The firm has maintained its Outperform rating with a $600 price target on the stock.