Nvidia vaults to world’s fourth-biggest company by market cap on AI optimism

Chipmaker Nvidia Corp has become the world’s fourth largest company by market capitalisation, after a 16.4% surge on Thursday when a quarterly earnings report surpassed analysts’ expectations.

The company’s market cap has swelled by $740.2 billion this year, the largest increase worldwide.

It makes Nvidia the third-largest company in the United States, outranking tech-giants Amazon.com Inc and Alphabet Inc and behind only Microsoft Corp and Apple Inc.