Nvidia outperforms AI Giant economies Germany, Russia and Canada

25. 05. 2024 | Natalie Bezděková

Driven by the boom in artificial intelligence (AI), US company Nvidia has grown significantly over the past year, so that its market value now exceeds the entire German stock market and even the gross domestic product of Russia or Canada. Only seven global economies and companies like Microsoft and Apple are ahead of it.

When it released its first-quarter financial results, the market expected that if Nvidia failed to meet expectations, it could cause its stock to crash, affecting the entire market. On the contrary, Nvidia has exceeded expectations, as evidenced by the sustained interest in AI and its advanced graphics processors. Nvidia’s current market capitalisation is $2.553 trillion (£58.3 trillion), making it the world’s third largest company after Microsoft ($3.173 trillion) and Apple ($2.865 trillion). By comparison, its market capitalisation is nine times higher than that of AMD, its main chip competitor. Tesla’s market value is four times lower and so is that of Danish pharmaceutical firm Novo Nordisk. European companies can’t compare with Nvidia because even all the companies on the German stock exchange combined are below its market capitalisation, according to data from Statista in March 2024.

Nvidia is larger in market value than most of the world’s economies except the seven largest. It has even surpassed Russia with a GDP of $2.24 trillion (51.1 trillion CZK) and Canada with a GDP of $2.16 trillion in 2022. Although these are different economic indicators, GDP represents the total value of goods and services produced in a country, while market capitalization reflects the value of a single company on the stock market. A direct comparison is not exact, but it shows how big Nvidia is.

Nvidia’s market capitalization is exceeded only by the GDP of the US ($25.44 trillion), China ($17.96 trillion), Japan ($4.26 trillion), Germany ($4.09 trillion), India ($3.41 trillion), the UK ($3.08 trillion) and France ($2.78 trillion). By comparison, the Czech Republic’s GDP is $290.57 billion (CZK 6.6 trillion), which means that Nvidia’s market capitalization is almost nine times larger than the entire Czech economy.

Photo source: www.pexels.com

Author of this article

Natalie Bezděková

I am a student of Master's degree in Political Science. I am interested in marketing, especially copywriting and social media. I also focus on political and social events at home and abroad and technological innovations. My free time is filled with sports, reading and a passion for travel.


Support us to keep up the good work and to provide you even better content. Your donations will be used to help students get access to quality content for free and pay our contributors’ salaries, who work hard to create this website content! Thank you for all your support!

Write a comment