Nvidia (NVDA.O) emerged as the top global gainer in market capitalization in 2024, driven by skyrocketing demand for its AI-centric chips. The chipmaker’s market value soared by over $2 trillion, reaching $3.28 trillion by year-end, making it the second-most valuable company in the world. This sharp rise comes from a surge in interest in artificial intelligence across various sectors. In contrast, Apple (AAPL.O) held the top spot in market value, approaching a historic $4 trillion valuation, buoyed by investor optimism over the company’s AI advancements to boost iPhone sales.
Microsoft (MSFT.O) followed in third place with a market value of $3.1 trillion, while Alphabet Inc (GOOGL.O) and Amazon (AMZN.O) each saw their market values hit approximately $2.3 trillion. These tech giants fueled significant growth in major global indexes, with the S&P 500 index (.SPX) rising by 23.3% and the Nasdaq (.IXIC) up 28.6% in 2024.
Despite potential risks such as U.S.-China trade tensions and slower U.S. interest rate cuts, analysts remain optimistic about tech stocks in 2025. Wedbush analyst Daniel Ives predicts a 25% growth for tech stocks next year, driven by AI innovations and a favorable regulatory environment under a potential Trump administration. The AI revolution and an expected $2 trillion in AI-related capital expenditures are set to power sustained growth in Big Tech and Tesla (TSLA.O) beyond 2025.
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