Nvidia became the first chipmaker to rank as the world’s most valuable company by market capitalization in June 2024.
Nvidia briefly reached the top global position on June 18, 2024, after a dramatic rise in its share price. Investors viewed its graphics-processing units, or GPUs, as essential hardware for training and running generative artificial-intelligence systems.
Nvidia was founded in 1993 and originally became known for graphics chips used in personal computers and video games. Its CUDA software platform and data-center products later helped turn the company into a central supplier for modern AI computing.
The ranking was temporary and changed as Apple and Microsoft shares moved. Nvidia’s ascent nevertheless marked a major shift in market leadership: a semiconductor designer, rather than a consumer-device, software, or energy company, briefly held the highest public valuation.