Nvidia became the first company to reach a $3 trillion market capitalization in 2024 because of surging demand for AI computing hardware.
Nvidia passed the $3 trillion threshold in June 2024 as investors anticipated continued demand for its graphics-processing units and related data-center systems. These chips are widely used to train and run artificial-intelligence models, although Nvidia’s business also serves gaming, professional visualization, and automotive markets.
The company’s CUDA software platform and broader hardware ecosystem helped make its accelerators attractive to developers and cloud providers. Its market capitalization therefore reflected more than chip shipments: investors were valuing a platform, software tools, and a leading position in an expanding computing market.
Nvidia was founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem. Its shares later underwent a ten-for-one split in 2024, which changed the per-share price but not the company’s total market value at the moment of the split.