Nvidia became the first semiconductor business valued above $3 trillion.
Nvidia crossed the $3 trillion market-capitalization level in June 2024, driven by exceptional demand for its graphics processors and data-center systems used in artificial-intelligence computing. Its valuation briefly surpassed Apple’s during that period.
Nvidia was founded in 1993 and became known for graphics processing units, or GPUs. GPUs were first associated mainly with computer graphics and video games, but their parallel-processing abilities made them important for machine learning and large AI models.
The company’s market value rose rapidly as major cloud providers and technology companies invested in AI infrastructure. Semiconductor companies are sometimes discussed as chip designers, manufacturers, or equipment suppliers; Nvidia primarily designs chips and relies on manufacturing partners for fabrication.