Nvidia became the world’s largest company by market capitalization in June 2024 amid demand for AI chips.
Nvidia’s rise was driven by demand for its graphics processing units, or GPUs, which are widely used to train and run artificial-intelligence systems. Its CUDA software platform and data-center products strengthened the company’s position beyond the sale of individual chips.
Nvidia briefly overtook Microsoft and Apple in June 2024 after its share price surged. The company’s ten-for-one stock split took effect later that month, reducing the price of each individual share without changing the total value of shareholders’ holdings or Nvidia’s market capitalization.
Nvidia began as a specialist graphics-chip company associated with computer gaming. Its technology later became central to high-performance computing, machine learning, and data centers. Its market-cap rise illustrates how investor expectations about future growth can rapidly change rankings among the world’s largest public companies.