Nvidia's Market Capitalization Surpasses Canada's GDP, As McKinsey Projects $1.7 Trillion AI Data Center Spend By 2030

Nvidia has become the world’s most valuable company with a market capitalization of $4.32 trillion, surpassing Canada’s entire 2024 GDP of $2.24 trillion, according to World Bank estimates. The surge reflects booming global demand for AI-driven data centers, with McKinsey projecting capacity will rise 3.5-fold by 2030 and capital spending to top $1.7 trillion. Nvidia’s stock has climbed 28.5% year to date and 52.21% over the past 12 months, supported by a 56% year-over-year revenue jump in the latest quarter. The company faces growing challenges in China, where regulators expanded an antitrust probe and officials push for reduced reliance on U.S. GPUs.