Nvidia became the first company to reach a $2 trillion market capitalization in 2024 during the artificial-intelligence boom.
Nvidia crossed $2 trillion during trading on February 23, 2024. The move followed a surge in demand for its data-center GPUs and accelerated-computing systems, which are widely used to train and run large artificial-intelligence models.
The company had reached $1 trillion less than a year earlier, on May 30, 2023. That unusually rapid climb reflected expectations that AI developers and cloud providers would continue purchasing Nvidia’s hardware at enormous scale.
Nvidia designs processors and software platforms, while Taiwan Semiconductor Manufacturing Company manufactures many chips for Nvidia and other customers. These companies are therefore closely connected in the AI supply chain but are not the same business, a distinction that matters when comparing market-cap rankings.