Nvidia became the first semiconductor firm to surpass a $2 trillion market capitalization in February 2024.
Nvidia crossed $2 trillion during trading on February 23, 2024, after a sharp rise in its share price. Investors were responding to extraordinary demand for its graphics processors and data-center systems used to train and run artificial-intelligence models.
The milestone followed Nvidia’s earlier rise above $1 trillion in 2023. Its market value increased rapidly as revenue and profit forecasts were revised upward, especially after major technology companies announced large AI infrastructure investments.
Nvidia is often described as a chip designer rather than a conventional chip manufacturer. It designs processors and software while relying on specialist foundries, including Taiwan Semiconductor Manufacturing Company, for fabrication. That distinction explains why Nvidia and TSMC can both be central to the semiconductor industry without being the same type of business.