Silver has overtaken Nvidia in total market value, becoming the world’s second-most valuable asset after gold, driven by a remarkable rally in 2025.
Key Takeaways
- Silver’s market cap surged past $4.7 trillion, pushing it above Nvidia’s $4.6 trillion value.
- The white metal is now second only to gold, which leads with a $31.5 trillion market cap.
- Silver prices crossed $84 per ounce, delivering 170% year-to-date gains, outperforming most major assets.
- Experts highlight silver’s dual role as both a precious and industrial metal as a key driver behind the surge.
What Happened?
Silver has quietly climbed to the number two spot in global asset rankings, surpassing Nvidia in total market capitalisation. The sharp rally has taken silver’s market value beyond $4.7 trillion, placing it just behind gold and ahead of several tech giants like Apple, Microsoft and Alphabet.
BREAKING: Silver officially surpasses Nvidia, $NVDA, as the 2nd most valuable asset in the world, now worth $4.65 TRILLION. pic.twitter.com/3a2tJbONK0
— The Kobeissi Letter (@KobeissiLetter) December 28, 2025
According to live data, the spot price of silver surged beyond $84 an ounce, while Nvidia’s stock price stood at $188.61, reflecting a slight dip of 0.32 percent at the time.
A Stunning Climb in Market Rankings
Until recently, Nvidia had enjoyed a commanding position in global financial markets as the biggest winner of the AI stock boom. But silver, long seen as a traditional safe-haven asset, has made a surprise comeback, fueled by a combination of precious metal allure and industrial utility.
The updated asset leaderboard now looks like this:
- Gold: $31.5 trillion
- Silver: $4.7 trillion
- Nvidia: $4.6 trillion
- Apple: $4 trillion
- Alphabet: $3.8 trillion
- Microsoft: $3.6 trillion
- Bitcoin: $1.8 trillion
This reshuffle places silver above nearly every tech giant, with only gold maintaining a substantial lead.
Year-to-Date Performance: Silver Outshines All
Silver has emerged as the top-performing major asset in 2025, with gains of around 170 percent, more than double gold’s strong 72 percent rise. Analysts attribute this explosive growth to silver’s unique position in the market.
Surendra Mehta, national secretary of the India Bullion and Jewellers Association (IBJA), commented:
While gold has been boosted by central bank buying and macroeconomic uncertainty, silver has benefitted from industrial demand in electronics and renewable technologies, on top of its role as a store of value.
CoinLaw’s Takeaway
In my experience watching markets, silver rarely gets the spotlight, but when it does, it roars. What we’re seeing now is not just a price rally but a global revaluation of an asset class many investors had sidelined. It is impressive how silver has managed to dethrone a tech giant like Nvidia at a time when AI and chips are all anyone talks about. The blend of industrial strength and precious metal stability makes silver uniquely positioned for the current economic landscape. I found this development a strong reminder that old-world assets can still rewrite modern financial narratives.
