NVIDIA became the third U.S. company to surpass a $2 trillion market capitalization in February 2024.
NVIDIA crossed the threshold as investors continued to demand its graphics-processing units, or GPUs, for artificial-intelligence computing. The company had already become a central supplier for data-center AI systems, and its rapid earnings growth drove an extraordinary rise in its share price.
Before NVIDIA, Apple and Microsoft had surpassed $2 trillion among U.S. companies. NVIDIA’s achievement showed how quickly a specialist semiconductor company could join the market-cap elite when its technology became essential to a major computing shift.
NVIDIA’s market value was not the same as its sales or cash balance. It represented the value investors assigned to its outstanding shares, which can change sharply with expectations about future demand and competition.