Nvidia’s market value is soaring, equivalent to the value of Inditex, Santander and Repsol combined.

California-based video game and artificial intelligence chip maker Nvidia is now on track to beat the record set by Meta (old Facebook) February 2 about increasing the company’s value on the stock market. Meta’s capitalization increased by $205.0 billion (€189.4 billion) after reporting results for the fourth quarter of 2023. Today Nvidia has raised $220,000 million (€200,330 million) for the opening.This is about the same as the market value of Inditex, Banco Santander and Repsol, which together reached 221.845 million euros. NVIDIA has surpassed Alphabet and Amazon(formerly Google) was less than $90 billion away from breaking the psychological barrier of two trillion dollars (1.84 trillion euros) in market value.

At this rate, it seems only a matter of time before a microchip company founded just 30 years ago by a Taiwanese immigrant emerges. Jensen Xuan, who is also President and CEO, surpasses the Saudi oil monopoly Saudi Aramco and is positioned as the second most valuable company in the world after Microsoft (more than 3 billion dollars) and Manzana (more than 2.9 billion).

Nvidia’s rally comes as the company’s results defied Wall Street forecasts and as Xuan’s guidance for the rest of the year sparked investor optimism. The market fell on Wednesday ahead of the company’s fourth-quarter earnings release on concerns that Nvidia will be unable to maintain sharp growth as more competitors enter the artificial intelligence (AI) market. Today, the company led by Xuan has a market share of 80% of the chips used in artificial intelligence, and judging by Xuan’s words in the results presentation, the company is well positioned to maintain its dominant position.