After losing $273 billion, “Nvidia” out of $3 trillion club

Nvidia has left the $3 trillion club, following its huge losses, leaving Apple as the sole member.

The chipmaker’s shares fell more than 8% on Thursday after quarterly earnings, erasing about $273 billion from its value and giving the company a market value of $2.94 trillion.

The Standard & Poor’s 500 index fell 1.6%, and the Nasdaq index fell 2.8%. Nvidia remains the second-most valuable US technology company, behind Apple and ahead of Microsoft, one of its biggest customers.

Nvidia shares have lost 10% of their value so far in 2025, as the company faces investor concerns about export controls, tariffs, more efficient artificial intelligence models and a slowdown in growth in general.

Even after the recent drop, Nvidia is still worth five times more than it was two years ago, at the start of the generative AI boom. It first hit a market cap of $3 trillion in June 2024.