Nvidia’s market capitalization passed $3 trillion in 2024 during the artificial-intelligence boom.
Nvidia’s shares surged as investors anticipated exceptional demand for its graphics processing units, or GPUs. These chips are widely used to train and run large artificial-intelligence models, making Nvidia a central supplier to cloud-computing companies and AI developers.
In June 2024, Nvidia briefly overtook Microsoft and Apple by market capitalization during intraday trading, becoming the world’s most valuable public company at that moment. Rankings later changed as share prices moved. Nvidia’s ten-for-one stock split in June 2024 also changed the per-share price without changing the company’s total market value by itself.
The company began as a graphics specialist for video games but expanded into data centers, professional visualization, automotive computing, and AI software. Its market value therefore reflected both current earnings and expectations about future computing demand.