Nvidia became the first company to reach a $3 trillion market capitalization in June 2024, driven partly by demand for artificial-intelligence chips.
Nvidia crossed the level on June 5, 2024, as investors continued to anticipate rapid growth in data-center computing. Its graphics processing units, or GPUs, became important for training and running large AI models because they can perform many calculations in parallel.
The company began in 1993 as a graphics-chip designer focused on computer games. It later developed the CUDA software platform, which allowed developers to use its GPUs for general-purpose parallel computing. That long-term software ecosystem helped make Nvidia’s hardware especially important in AI infrastructure.
Nvidia completed a ten-for-one stock split in June 2024. A split lowers the price of each individual share while increasing the number of shares, leaving the company’s overall market capitalization mathematically unchanged at the moment of the split.