Nvidia briefly surpassed Apple in market capitalization on June 5, 2024.
Nvidia’s rapid rise was powered by demand for its graphics processing units, which are widely used to train and run artificial-intelligence systems. Investors also responded to the company’s exceptional revenue growth and its central role in modern data centers.
The ranking changed as share prices moved during the trading day. Nvidia’s stock split ten-for-one in June 2024, but a stock split does not by itself change a company’s total market value; it simply divides each existing share into more shares.
Nvidia later became the world’s most valuable publicly traded company at various points as the leading technology stocks continued to exchange places. Market-cap rankings can therefore differ by date, time, and whether intraday or closing prices are used.