Nvidia reached a historic point in its history on Thursday, July 3, by achieving a market value of $3.92 trillion and becoming the most valuable company in history, surpassing Apple’s previous record of $3.915 trillion set in 2024. 

The chipmaker’s shares climbed 2.4 per cent to $160.98 in morning trading, driven by Wall Street’s unrelenting optimism about artificial intelligence (AI).

Nvidia’s meteoric rise has been boosted by soaring demand for its high-end AI chips, which have become critical for training advanced AI models. The company’s market capitalisation now exceeds the combined value of the Canadian and Mexican stock markets and surpasses the total value of all publicly listed companies in the United Kingdom, according to LSEG data.

Investment in Nvidia stock considered most valuable

“When the first company crossed a trillion dollars, it was amazing. And now you’re talking four trillion, which is just incredible,” said Joe Saluzzi, co-manager of trading at Themis Trading. “It tells you that there’s this huge rush with AI spending, and everybody’s chasing it right now.”

Nvidia, which was co-founded in 1993 by CEO Jensen Huang, has transformed from a niche player in video game graphics to the biggest player in the AI industry. Its stock has rocketed nearly eightfold since 2021, when its market value was $500 billion. The company now holds a 7.4 per cent weight in the S&P 500 index, undeniably claiming its dominance.

The rally follows a turbulent first half of the year, when concerns over President Donald Trump’s global tariff announcements and a trade dispute with Beijing weighed heavily on the markets. A selloff in January, in reaction to Chinese startup DeepSeek’s cut-price AI model outperforming Western competitors, raised concerns of reduced spending on high-end processors. However, Nvidia’s stock has just gone from strength to strength, rising 68 per cent from its April 4 dip, strengthened by expectations of softening trade policies.

Tech companies all using Nvidia chips making it most valuable company

Nvidia’s valuation is supported by strong earnings growth, trading at 32 times analysts’ expected earnings for the next 12 months. The company’s chips power AI data centres for tech giants like Microsoft, Amazon, Meta Platforms, Alphabet (Google), and Tesla, all racing against each other to dominate AI technology.

Microsoft, with a $3.7 trillion market cap, now is listed as the second-most valuable company in the world, while Apple which is valued at $3.19 trillion, is in third place. Nvidia’s rise also reveals a change in the semiconductor industry, as it has replaced floundering Intel in the Dow Jones Industrial Average in November 2024.

Santander has announced it will buy British bank TSB for £2.65 billion, raising fresh concerns about job losses and branch closures across the UK. The deal, expected to complete in early 2026, will see TSB absorbed into Santander’s existing UK operations, making it the third-largest provider of personal current accounts in the country.

TSB currently operates around 175 branches and employs approximately 5,000 people. With Santander already running a large branch network, fears are growing that overlapping locations could lead to widespread closures and redundancies. Staff and unions have called for reassurances as the integration process begins. The acquisition also strengthens Santander’s footprint in the UK banking sector at a time of increasing consolidation. Executives say the move will improve efficiency and deliver hundreds of millions in cost savings, but critics warn that streamlining often comes at a human cost.

The future of the TSB brand remains uncertain, with industry insiders suggesting it may eventually be phased out. The deal still needs approval from regulators and shareholders before it goes ahead. Communities served by both banks now wait to see how the merger will affect their local services and whether the promised benefits of the deal will outweigh the potential disruptions to jobs and customer access

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SPAIN’S government will allow the €11 billion BBVA hostile takeover of Sabadell Bank to go ahead but under strict conditions that could see the bid being scrapped.

The biggest caveat is that the two banks cannot be merged for at least three years with an option for an extra two years.

No redundancies would be permitted at either entity during the period or changes to branches, i.e. closures.

READ MORE:

• Sabadell looks to sell off British bank TSB to fend off hostile takeover by Spain’s BBVA
• The EU warns Spain not to block €11 billion BBVA-Sabadell mega-merger

The Economy Minister, Carlos Cuerpo, said on Tuesday that the Council of Ministers had agreed to allow the BBVA bid on the condition of ‘maintaining the legal personality, the separate assets and the autonomy in the management of both entities’.

“It is a decision that is proportionate, balanced and within the framework of Spanish regulations,” Cuerpo added.

The government announcement came after a public consultation period launched in May.

Its terms mean that BBVA has a major decision to make over accepting the government demands; to make a Supreme Court challenge; or simply walkway from its Sabadell bid.

The BBVA chairman, Carlos Torres, said on Monday that it would be ‘illegal’ for the government to impose extra conditions.

He also said that if profitability was affected, the offer would be withdrawn

BBVA had been preparing to launch its formal tender offer to Sabadell shareholders in the coming weeks.

Sabadell meanwhile has been looking to pay shareholders more to fend off the takeover by the potential sale of the TSB Bank in the UK.

The government’s ban on an immediate full merger would come into force if BBVA’s takeover bid were successful.