Nvidia became the first company to reach a US$3 trillion market capitalization based largely on AI-chip demand in June 2024.
Nvidia’s graphics processing units, or GPUs, became crucial infrastructure for training and running large artificial-intelligence models. Strong demand from cloud providers and other technology companies drove rapid growth in Nvidia’s revenue, earnings, and share price. The company crossed the US$3 trillion level during trading on June 5, 2024.
Nvidia’s market-capitalization rise followed a 10-for-1 stock split that took effect in June 2024. A stock split changes the number of shares and the price per share but does not, by itself, change the company’s total market value. Investors instead focused on Nvidia’s expanding role in data centers and accelerated computing.
The milestone is distinct from Nvidia’s later ranking among the world’s largest companies. Market-capitalization leadership can change whenever share prices move, especially among highly valued technology firms.