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Nvidia stock continued to rebound during Wednesday morning trading, after the company lost more than $500 billion in market value.
The AI chipmaker’s shares were up about 1.4% Wednesday morning. During midday trading on Tuesday, the company’s stock was up over 5%. Nvidia’s market cap is currently $3.14 trillion, putting it behind Apple’s $3.25 trillion and Microsoft’s $3.35 trillion. On June 18, Nvidia briefly surpassed both Apple and Microsoft to become the most valuable public company in the world.
On Monday, Nvidia’s shares fell 6.7% to about $118, dragging down the Nasdaq. The company’s stock had hit a peak price of $140.76 on June 20, setting its market cap at nearly $3.5 trillion. But its market cap fell back below the $3 trillion threshold to $2.9 trillion, putting it behind Apple and Microsoft, which closed with $3.2 and $3.3 trillion market caps, respectively.
Nvidia lost more than $500 billion in market value over three trading days, impacting shares of chip companies in Europe and Asia, too. Shares of chip firms on both continents dipped in early trading on Tuesday, before some eventually rebounded. Dutch chip equipment manufacturer ASML was up 0.18% at the European close, while Swiss semiconductor manufacturer STMicroelectronics was down 1.4%, according to CNBC. Meanwhile in Asia, South Korean tech giant Samsung was down 0.3% at the close, while chipmaker Taiwan Semiconductor Manufacturing Company was up 0.5%.
Earlier this month, Nvidia briefly passed Apple in total market cap, reaching the $3 trillion threshold for the first time. In February, Nvidia became the first semiconductor company to reach a $2 trillion valuation after it reported record fourth-quarter earnings. In May, Nvidia beat Wall Street’s expectations again, reporting record first-quarter revenue of $26 billion for fiscal year 2025 — up 262% from the previous year. After its first-quarter earnings report, Nvidia’s stock price opened above $1,000, but it has since initiated a 10-for-1 stock split.