Nvidia became the first semiconductor maker to surpass a $3 trillion market value.
Nvidia crossed the threshold in June 2024 as investors responded to explosive demand for its graphics processing units, or GPUs. These chips are widely used for artificial intelligence training and inference, alongside their long-established role in computer graphics and gaming.
The company’s rise was closely linked to the expansion of generative AI. Nvidia’s CUDA software platform and specialized data-center products helped make its hardware central to many AI computing systems. Its market value then briefly moved ahead of Apple and Microsoft at different points as share prices fluctuated.
Market capitalization measures investor expectations as well as current business results. It should not be confused with the value of all semiconductors sold worldwide, and Nvidia does not manufacture most of its chips in its own factories; it relies heavily on contract manufacturers.