Nov 7 (Reuters) - Shares of Nvidia (NVDA.O) , opens new tab rallied to a record high on Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House.

The dominant AI chipmaker's shares rose 2.2%, lifted by broad investor optimism about tax cuts and lower regulations after the Republican candidate's Tuesday election victory.

Nvidia's stock market value ended the day at $3.65 trillion, beating Apple's (AAPL.O) , opens new tab record closing market capitalization of $3.57 trillion reached on Oct. 21, before the chipmaker on Tuesday overtook the iPhone maker as the world's most valuable company, according to LSEG data.

Apple's stock rose 2.1% on Thursday, leaving it with a market value of $3.44 trillion.

The S&P 500 technology index (.SPLRCT) , opens new tab has surged over 4% in the two sessions since Trump won the election on Tuesday.

Nvidia has been the U.S. stock market's biggest winner from a race between Microsoft (MSFT.O) , opens new tab, Alphabet (GOOGL.O) , opens new tab and other heavyweights to build out their AI computing capacity and dominate the emerging technology.

The Silicon Valley chip designer's stock has climbed 12% in November, with its value tripling so far in 2024.

Following this year's surge, Nvidia now exceeds the combined value of Eli Lilly (LLY.N) , opens new tab, Walmart (WMT.N) , opens new tab, JPMorgan (JPM.N) , opens new tab, Visa (V.N) , opens new tab, UnitedHealth Group (UNH.N) , opens new tab and Netflix (NFLX.O) , opens new tab.

Analysts on average see Nvidia increasing its quarterly revenue by over 80% to $32.9 billion when it reports its results on Nov. 20, according to LSEG.

In June, Nvidia briefly became the world's most valuable company before it was overtaken by Microsoft (MSFT.O) , opens new tab and Apple. The tech trio's market capitalizations have been neck-and-neck for several months.

Microsoft's market value stood at nearly $3.16 trillion, with its stock up 1.25% on Thursday.

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https://www.reuters.com/technology/nvidia-surpasses-36-trillion-market-value-after-trump-win-2024-11-07/