NVIDIA became the world’s most valuable publicly traded company in June 2024 after an AI-driven stock rally.
On June 18, 2024, NVIDIA’s market capitalization briefly exceeded those of Microsoft and Apple. The shift followed a major rise in NVIDIA’s share price as investors responded to surging demand for its data-center chips and systems.
NVIDIA’s graphics processors are highly suited to parallel calculations used in machine learning. Its CUDA programming platform also helped create a large software ecosystem around its hardware, strengthening the company’s position in AI computing.
The ranking was not permanent: market-cap leadership can change quickly when large companies’ share prices move by even a few percentage points. Such rankings should therefore be tied to a date rather than treated as an eternal fact.