But it doesn\u2019t end there\u2014the tale of Nvidia\u2019s success is still developing, as it single-handedly eclipses all of Europe\u2019s stock markets in market capitalization.\u00a0<\/p>\n
As of earlier this week, Nvidia became the world\u2019s most valuable company<\/a>, thanks to an aggressive rally in its stock that has swayed all of Wall Street<\/a>.<\/p>\n With a $3.2 trillion market cap now, Deutsche Bank in a note on Thursday found that Nvidia is now bigger than the value of all the listed stocks in Europe\u2019s major business hubs\u2014Germany, France and the U.K. At the time the note was published, Nvidia\u2019s market cap was $3.35 trillion.\u00a0<\/p>\n It didn\u2019t always look like this. A decade ago, the London Stock Exchange (LSE) had a significant lead, with its listed stocks collectively worth 400 times Nvidia\u2019s value. But in the last week, Nvidia left LSE in the dust.\u00a0<\/p>\n At its sky-high valuation, the only markets whose listed shares are collectively larger than Nvidia are the U.S., India, China and Japan, Deutsche Bank said.\u00a0<\/p>\n I-HWA CHENG\u2014AFP\/Getty Images<\/p>\n<\/div>\n The California-based company\u2019s growth has been ramping up for a while now. It\u2019s also rare for companies to see such rapid growth, even in the tech universe. Apple was the first trillion-dollar company back in 2018<\/a>, eventually hitting the $3 trillion mark last year. The AI frenzy helped Microsoft beat Apple<\/a> to become the most valuable company in January before Nvidia grabbed the crown from the Redmond, Wash.-based company.\u00a0<\/p>\n Nvidia\u2019s GPUs, or graphic processing units, have waltzed with<\/a> the recent surge in AI demand. Meanwhile, the speed and performance of its chips and the suite of tech solutions Nvidia offers have progressed, too. Investors have paid attention to the company\u2019s strengths, doubling the stock\u2019s value since January that resulted in a 10-for-1<\/a> stock split earlier in June.\u00a0<\/p>\n It\u2019s hard to compare a company with such supersized growth to just about anything else in the world\u2014let alone the LSE. Nvidia\u2019s growth trajectory, which is still accelerating, has been startling given the U.S. is still navigating relatively high interest rates.\u00a0<\/p>\n Still, LSE has recently had big wins. It just beat Paris to become Europe\u2019s largest stock exchange<\/a> amid political turmoil in France while also welcoming the strong IPO<\/a> of computer maker Raspberry Pi.\u00a0<\/p>\n Those achievements have paled in comparison to London\u2019s relative weakness in attracting top company listings and growing its value. Even today, the dominant players in its stock market belong to traditional industries such as energy, mining, and financials, with only a handful of tech players.<\/p>\n What LSE is seeing now isn\u2019t a product of its lack of ambition, the exchange\u2019s chief Julia Hoggett argued. It\u2019s still undoubtedly a critical financial hub\u2014just in need of revamping.\u00a0<\/p>\n \u201cThe U.K. does not invest in itself as much as it could, or should,\u201d Hoggett said in an op-ed for The Times of London<\/em><\/a> on Thursday, adding that the markets were undergoing \u201cthe largest reform in decades.\u201d\u00a0<\/p>\n The overhaul, which could kick in as early as this year, include changes to the listing rules and more participation of the Brits in stock market investments through their pension schemes.\u00a0\u00a0<\/p>\n The LSE chief previously commented on the U.K.\u2019s stock market as \u201cpunching above its weight.\u201d<\/p>\n \u201cWhen you strip them out and look at the actual companies of similar sizes in the U.S. to the sort of company size that we have in the U.K. They haven\u2019t really been out-performing,\u201d she told the BBC <\/em>last month<\/a>.<\/p>\n The example of Nvidia highlights how a big growth story in the U.S. can still give London a run for its money. What London\u2014and other European financial hubs\u2014do to stay in the game remains a question. \u00a0<\/p>\n<\/div>\n![\"Nvidia](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/06\/GettyImages-2155385959_92e4bf-e1718968217407.jpg?w=1440&q=75\"\/)
London\u2019s got game<\/strong><\/h2>\n