Nvidia briefly overtook Apple as the world’s second-most valuable company in June 2024.
Nvidia’s market capitalization passed Apple’s during trading on June 5, 2024, after a powerful rise in the company’s share price. The move reflected investor demand for Nvidia’s graphics-processing units and related software, which are widely used to train and run artificial-intelligence systems.
Nvidia began as a graphics-chip company serving computer games and professional visualization. Its CUDA software platform and accelerator hardware later made it a major supplier for data centers and machine-learning developers. Its growth turned the company into one of the central firms in the AI infrastructure market.
The ranking was temporary and could change with daily trading. Nvidia also completed a ten-for-one stock split in June 2024. A split reduces the price per share while increasing the number of shares, so the split itself does not automatically change the company’s total market capitalization.