Saudi Aramco became the first company to reach a US$2 trillion valuation in intraday trading in December 2019.
The milestone came shortly after Saudi Aramco began trading on the Saudi Exchange following its initial public offering. The share price rose enough on the second day of trading for the value of all outstanding shares to briefly reach approximately US$2 trillion.
This event is often mixed up with Apple's later US$2 trillion achievement. Apple reached that level in August 2020 and is commonly described as the first company to sustain or close around the threshold in widely reported US market-cap comparisons. Saudi Aramco's earlier record was specifically an intraday valuation.
Saudi Aramco's enormous oil reserves, production capacity, refining operations, and strategic importance underpin its status among the world's largest energy companies. Its government ownership also means that only a minority of its shares are publicly traded.