Nvidia became the first company to reach a $3 trillion market capitalization in 2024 after Microsoft, crossing the threshold on June 5.
Nvidia’s market value surged because investors viewed its graphics-processing units as essential infrastructure for training and running artificial-intelligence systems. Its chips, software platforms, and data-center products became central to the expansion of generative AI, leading to exceptional sales growth and investor demand.
Nvidia’s shares also completed a ten-for-one stock split in June 2024. A stock split changes the number of shares and the price per share, but it does not by itself change the company’s total market capitalization. The valuation milestone reflected the combined value of all shares after adjusting for the split.
Nvidia was founded in 1993 and initially became known for graphics chips used in personal computers and video games. Its later data-center business transformed its position among the world’s most valuable companies.